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LONDON - Vertical Aerospace (NYSE:EVTL), a $550 million market cap pioneer in electric aviation, completed what it calls the world’s first airport-to-airport piloted flight by a full-scale, winged tilt-rotor electric vertical takeoff and landing (eVTOL) aircraft designed for commercial service. The company’s stock has shown strong momentum with a 14% gain over the past week, according to InvestingPro data.
The VX4 prototype flew 17 miles from Vertical’s Flight Test Centre at Cotswold Airport to RAF Fairford on Wednesday, July 16, reaching speeds of 115mph and an altitude of 1,800 feet, according to a company press release. The flight followed approvals from the UK Civil Aviation Authority.
The aircraft is being showcased at the Royal International Air Tattoo (RIAT), a military airshow taking place July 18-20, where it is the only electric aircraft on display.
"Flying the VX4 from airport to airport is a major milestone, and a powerful demonstration of the real-world capability of the aircraft," said Simon Davies, Vertical’s Chief Test Pilot, who piloted the prototype.
The company is developing both all-electric and hybrid-electric variants of the VX4. The hybrid version, which has been in development for 18 months, is expected to begin flight testing in the second quarter of 2026. According to Vertical, this variant will offer a range of up to 1,000 miles and a payload capacity of up to 1,100 kilograms. While the company currently holds more cash than debt on its balance sheet, InvestingPro analysis indicates its financial health score remains at cautionary levels, with analysts forecasting profitability improvements in the coming year.
Vertical Aerospace reports having approximately 1,500 pre-orders for the VX4 from customers including American Airlines, Japan Airlines, GOL and Bristow. The company states that some customer obligations are expected to be fulfilled via third-party agreements.
The Bristol-based company is targeting certification of its hybrid-electric variant to aviation safety standards by 2028. Analyst price targets range from $2 to $15 per share, reflecting the market’s mixed outlook on this emerging technology player. For deeper insights into Vertical Aerospace’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which includes additional proprietary metrics and expert analysis.
In other recent news, Vertical Aerospace has successfully closed a $60 million public offering, selling 12 million ordinary shares at $5.00 each. The company plans to use the proceeds from this offering to fund research and development, expand testing and certification capacities, and for general working capital purposes. This funding extends Vertical Aerospace’s cash runway toward mid-2026. Canaccord Genuity recently adjusted its price target for Vertical Aerospace to $11.00 from $13.50, maintaining a Buy rating, citing the dilution effect of the recent offering. The company is focusing on expanding the flight envelope of its aircraft beyond Cotswold Airport, following a successful piloted flight in May. Vertical Aerospace is developing the VX4, a piloted, four-passenger electric vertical take-off and landing aircraft, and has secured approximately 1,500 pre-orders from major airlines. Analysts from Canaccord Genuity believe the company aims to attract a large strategic partner as it continues to test the VX4 prototype. The offering was managed by Deutsche Bank Securities and William Blair as joint bookrunners, with D. Boral Capital acting as co-manager.
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