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

Vertical Aerospace Ltd. (NYSE:EVTL)’s stock is set to reverse split before the market opens 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 Stock Down 7.4 %

EVTL stock opened at $0.67 on Friday. The business has a 50 day moving average of $0.85 and a 200 day moving average of $0.81. Vertical Aerospace has a twelve month low of $0.51 and a twelve month high of $1.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EVTL shares. Deutsche Bank Aktiengesellschaft upgraded Vertical Aerospace from a “hold” rating to a “buy” rating and raised their price target for the company from $1.00 to $1.50 in a report on Tuesday, July 23rd. Canaccord Genuity Group restated a “buy” rating and set a $1.50 price objective on shares of Vertical Aerospace in a research note on Friday, September 13th.

About Vertical Aerospace

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.