Canaccord Genuity Group Issues Pessimistic Forecast for Vertical Aerospace (NYSE:EVTL) Stock Price

Vertical Aerospace (NYSE:EVTL) had its price objective cut by Canaccord Genuity Group from $16.00 to $13.50 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Vertical Aerospace from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, December 3rd. Barclays upped their target price on Vertical Aerospace from $0.75 to $2.00 and gave the stock an “underweight” rating in a report on Thursday, November 21st. Finally, Raymond James restated a “market perform” rating on shares of Vertical Aerospace in a research note on Tuesday, November 26th.

Vertical Aerospace Price Performance

Shares of EVTL stock opened at $5.62 on Friday. The stock has a 50 day moving average price of $8.56 and a 200 day moving average price of $37.04. Vertical Aerospace has a 52-week low of $3.55 and a 52-week high of $15.99.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Friday, December 20th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.58). On average, equities analysts anticipate that Vertical Aerospace will post -4.35 earnings per share for the current fiscal year.

Vertical Aerospace Company Profile

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.