BTIG Research Has Lowered Expectations for BETA Technologies (NYSE:BETA) Stock Price

BETA Technologies (NYSE:BETA) had its target price lowered by research analysts at BTIG Research from $40.00 to $33.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 126.23% from the stock’s current price.

BETA has been the subject of a number of other reports. Jefferies Financial Group dropped their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald reduced their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. The Goldman Sachs Group reduced their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, UBS Group set a $24.00 price target on shares of BETA Technologies and gave the stock a “buy” rating in a research report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Price Performance

BETA Technologies stock opened at $14.59 on Wednesday. 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 business’s fifty day moving average is $16.43. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50. The firm has a market capitalization of $3.24 billion and a price-to-earnings ratio of -1.18.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts predict that BETA Technologies will post -2.13 EPS for the current fiscal year.

Insider Buying and Selling

In other BETA Technologies news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Lawrence Churchill sold 18,981 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $343,935.72. Following the completion of the transaction, the chief technology officer directly owned 552,647 shares of the company’s stock, valued at approximately $10,013,963.64. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 138,928 shares of company stock worth $2,517,375 over the last 90 days. 24.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BETA Technologies

Hedge funds have recently bought and sold shares of the stock. General Electric Co acquired a new position in BETA Technologies in the 4th quarter valued at $644,962,000. TPG GP A LLC bought a new position in BETA Technologies in the fourth quarter valued at approximately $462,515,000. Amazon Com Inc. bought a new position in BETA Technologies in the fourth quarter valued at approximately $331,577,000. Vanguard Group Inc. bought a new position in BETA Technologies in the fourth quarter valued at approximately $77,089,000. Finally, Norges Bank bought a new stake in shares of BETA Technologies during the 4th quarter worth $41,485,000.

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.