Fintel reports that on February 21, 2024, Canaccord Genuity upgraded its outlook for Vertical Aerospace (NYSE:EVTL) from hold on to to buy .
Analytical Price Forecast Suggests 43.85% Up
As of January 19, 2024, the average one-year price target for Vertical Aerospace is 0.94. The predictions range from a minimum of 0.76 to a maximum of $1.05. The average price target represents a 43.85% increase from its last reported close price of 0.65.
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The projected annual revenue for Vertical Aerospace is 0MM, a decrease of NaN%. The projected annual non-GAAP EPS is -0.84.
What is the Basic Sense?
There are 31 funds or institutions reporting positions in Vertical Aerospace. This is an increase of 3 owner(s) or 10.71% in the last quarter. Average portfolio weight of all funds dedicated to EVTL is 0.03%, a decrease of 73.28%. Total shares owned by institutions decreased in the last three months by 58.92% to 2,237K shares. EVTL’s put/call ratio is 0.07, indicating a bullish outlook.
What Are Other Shareholders Doing?
PBW – Invesco WilderHill Clean Energy ETF holds 5,071K shares representing 2.29% ownership of the company. In its previous filing, the company reported owning 5,308K shares, representing decline of 4.66%. The company decreased its portfolio allocation in EVTL at 16.87% during the last quarter.
Jane Street Group holds 660K shares representing 0.30% ownership of the company. In its previous filing, the company reported owning 0K shares, representing an increase of 100.00%.
Millennium Management holds 606K shares representing 0.27% ownership of the company. In its previous filing, the company reported owning 39K shares, representing an increase of 93.51%. The company increased its portfolio allocation in EVTL by 670.16% during the last quarter.
Bank Of America holds 142K shares representing 0.06% ownership of the company. In its previous filing, the company reported owning 0K shares, representing an increase of 100.00%. The company increased its portfolio allocation in EVTL by 2,345,661.36% during the last quarter.
Renaissance Technologies holds 130K shares representing 0.06% ownership of the company.
Vertical Aerospace Background Information
(This description is provided by the company.)
Vertical Aerospace is an electric aviation pioneer. The company was founded in 2016 by Stephen Fitzpatrick, an established entrepreneur best known as the founder of the Ovo Group, a leading energy and technology group and Europe’s largest independent energy trader. Over the past five years, Vertical has focused on building the most experienced and senior team in the eVTOL industry, which has more than 1,700 combined years of engineering experience, and has certified and supported more than 30 different civil and military aircraft and propulsion systems. Vertical’s advanced partner ecosystem is expected to reduce operational execution and its path to certification, enable a lean cost structure and enable production at scale. Vertical has received conditional pre-orders for a total of up to 1,350 aircraft from American Airlines, Avolon, Bristow and Iberojet, which includes conditional pre-orders from Virgin Atlantic and Marubeni, and in doing so, creates multiple options that are short-term and affordable. routes to market.
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This story originally appeared on Fintel.
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