BETA Technologies’ (BETA) Buy Rating Reaffirmed at BTIG Research

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a research note issued to investors on Friday, Benzinga reports. They presently have a $33.00 target price on the stock. BTIG Research‘s target price would suggest a potential upside of 37.80% from the company’s current price.

A number of other research analysts also recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Barclays initiated coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 price objective on the stock. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BETA Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $30.90.

BETA Technologies Stock Down 5.4%

Shares of BETA opened at $23.95 on Friday. The business’s fifty day moving average price is $20.86 and its 200 day moving average price is $19.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 11.51. BETA Technologies has a 12-month low of $13.43 and a 12-month high of $39.50.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The firm had revenue of $17.67 million during the quarter. During the same quarter in the previous year, the firm earned ($9.83) EPS. The firm’s revenue for the quarter was up 98.6% on a year-over-year basis. Research analysts anticipate that BETA Technologies will post -2.25 earnings per share for the current fiscal year.

Insider Buying and Selling at BETA Technologies

In other news, Director Michael Stone acquired 13,125 shares of the company’s stock in a transaction that occurred 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 acquisition, the director directly owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. The trade was a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kyle Clark sold 30,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.42, for a total transaction of $762,600.00. Following the completion of the sale, the insider directly owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This trade represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 358,901 shares of company stock valued at $8,204,568. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in shares of BETA Technologies by 390.8% during the third quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock worth $93,000 after buying an additional 3,341 shares during the period. Fulcrum Asset Management LLP bought a new position in BETA Technologies in the 3rd quarter worth approximately $149,000. J. Derek Lewis & Associates Inc. increased its position in BETA Technologies by 27.4% in the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 18,600 shares of the company’s stock valued at $411,000 after acquiring an additional 4,000 shares during the period. ProShare Advisors LLC acquired a new stake in BETA Technologies in the 3rd quarter valued at approximately $328,000. Finally, State of Wyoming increased its position in BETA Technologies by 33.5% in the 3rd quarter. State of Wyoming now owns 21,944 shares of the company’s stock valued at $485,000 after acquiring an additional 5,507 shares during the period.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.