BETA Technologies’ (BETA) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of BETA Technologies (NYSE:BETA) in a report published on Monday,Benzinga reports. They currently have a $31.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. BTIG Research reissued a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, August 12th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, Citigroup reiterated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Stock Performance

Shares of BETA Technologies stock opened at $20.57 on Monday. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The stock has a market cap of $4.64 billion and a price-to-earnings ratio of -1.58. The company’s fifty day moving average is $22.09 and its 200 day moving average is $18.61.

BETA Technologies (NYSE:BETA) last announced its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The company had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. Sell-side analysts forecast that BETA Technologies will post -2.25 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kyle Clark sold 30,000 shares of BETA Technologies stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider owned 5,396,941 shares of the company’s stock, valued at approximately $137,190,240.22. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Stone purchased 13,125 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average price of $19.19 per share, with a total value of $251,868.75. Following the purchase, the director directly owned 1,792,994 shares in the company, valued at $34,407,554.86. This represents a 0.74% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 233,901 shares of company stock worth $5,753,118. 24.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of BETA Technologies during the second quarter valued at approximately $235,000. IFP Advisors Inc boosted its holdings in BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after acquiring an additional 1,528 shares during the last quarter. Squarepoint Ops LLC purchased a new position in BETA Technologies during the 2nd quarter worth $2,045,000. Allworth Financial LP grew its stake in shares of BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of BETA Technologies in the 2nd quarter worth $251,000.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.