15 Best NYSE Penny Stocks to Buy According to Hedge Funds

11. Vertical Aerospace Ltd. (NYSE:EVTL)

Vertical Aerospace Ltd. (NYSE:EVTL) offers a compelling investment case, based on its long-term strategic engagements with key industry players, making it one of the 15 best NYSE penny stocks to buy according to hedge funds.

On June 29, Vertical Aerospace Ltd. (NYSE:EVTL) entered into a long-term contract with Astronics Corp. (NASDAQ:ATRO), which is a leading supplier of advanced technologies for mission-critical industries, defense, aerospace, and other important industries.

Under the agreement, Astronics will deliver low-voltage power distribution capabilities to Vertical’s Valo electric vertical take-off and landing (eVTOL) aircraft. This will include distribution hardware and power conversion to safeguard electrical power for the aircraft’s underlying systems.

The distribution system has the ability to transform high-voltage electrical power from the eVTOL propulsion framework into low-voltage power that supports flight control and critical aircraft functions.

What is also driving a favorable sentiment towards Vertical Aerospace Ltd. (NYSE:EVTL) is the successful execution of the company’s recent testing campaign. Back on June 9, the management revealed that its most recent full-sized aircraft prototype concluded its inaugural piloted flight in the UK at the Company’s Flight Test Center.

This marked the beginning of an extended flight testing campaign. According to the company, the new prototype is the last aircraft to become part of its flight testing fleet prior to Critical Design Review. It sets the design baseline for certification.

Vertical Aerospace Ltd. (NYSE:EVTL) is an aerospace technology company that designs and manufactures zero-emission electric vertical takeoff and landing aircraft. Through its flagship VX4 aircraft, the company is on a mission towards advanced air mobility and to make urban travel more sustainable.