Vertical Aerospace (NYSE:EVTL) Stock Set to Reverse Split on Monday, September 23rd

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock is set to reverse split on Monday, September 23rd. The 1-10 reverse split was announced on Monday, September 16th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, September 20th.

Vertical Aerospace Trading Down 2.6 %

NYSE:EVTL opened at $0.78 on Thursday. The firm’s fifty day moving average price is $0.86 and its 200 day moving average price is $0.81. Vertical Aerospace has a 1-year low of $0.51 and a 1-year high of $1.62.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Vertical Aerospace from a “hold” rating to a “buy” rating and increased their target price for the stock from $1.00 to $1.50 in a research note on Tuesday, July 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $1.50 price objective on shares of Vertical Aerospace in a research report on Friday, September 13th.

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. The company was founded in 2016 and is headquartered in Bristol, the United Kingdom.