BETA Technologies Inc (NYSE:BETA) Receives Average Rating of “Moderate Buy” from Brokerages

BETA Technologies Inc (NYSE:BETA) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $31.1111.

A number of brokerages have commented on BETA. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. Cantor Fitzgerald lowered their target price on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group lowered their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, BTIG Research reduced their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th.

Insider Activity

In other news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $336,778.32. Following the transaction, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at approximately $1,639,225.80. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sean Donovan sold 19,008 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at approximately $3,192,653.40. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 243,928 shares of company stock worth $4,220,475. Company insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

Institutional investors have recently added to or reduced their stakes in the company. General Electric Co acquired a new position in shares of BETA Technologies in the fourth quarter worth about $644,962,000. Massachusetts Financial Services Co. MA purchased a new position in BETA Technologies in the fourth quarter valued at about $6,349,000. Vanguard Group Inc. acquired a new stake in BETA Technologies during the 4th quarter valued at approximately $77,089,000. Liberty Street Advisors Inc. acquired a new stake in BETA Technologies during the 4th quarter valued at approximately $28,187,000. Finally, Pictet Asset Management Holding SA purchased a new stake in BETA Technologies during the 4th quarter worth approximately $10,896,000.

BETA Technologies Price Performance

BETA Technologies stock opened at $19.80 on Tuesday. The firm has a fifty day moving average of $16.99 and a 200-day moving average of $18.65. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.40 billion and a P/E ratio of -1.60.

BETA Technologies (NYSE:BETA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts predict that BETA Technologies will post -2.17 EPS for the current year.

About BETA Technologies

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.