BETA Technologies Inc (NYSE:BETA) Receives $31.11 Average Target Price from Brokerages

Shares of BETA Technologies Inc (NYSE:BETA) have been given an average rating of “Moderate Buy” by the eleven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $31.1111.

Several research firms have recently commented on BETA. Cantor Fitzgerald decreased their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. UBS Group set a $24.00 price objective on BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Jefferies Financial Group decreased their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th.

Insider Transactions at BETA Technologies

In other news, CTO David Lawrence Churchill sold 18,981 shares of BETA Technologies stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $343,935.72. Following the transaction, the chief technology officer owned 552,647 shares in the company, valued at approximately $10,013,963.64. The trade was a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $344,424.96. Following the transaction, the chief operating officer owned 176,195 shares in the company, valued at approximately $3,192,653.40. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 138,928 shares of company stock valued at $2,517,375. 24.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently made changes to their positions in the business. General Electric Co purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $644,962,000. Massachusetts Financial Services Co. MA purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $6,349,000. Vanguard Group Inc. purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $77,089,000. Liberty Street Advisors Inc. purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $28,187,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $10,896,000.

BETA Technologies Trading Down 0.2%

Shares of BETA stock opened at $18.29 on Monday. 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 has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $21.68. BETA Technologies has a 12-month low of $13.43 and a 12-month high of $39.50. The firm has a market cap of $4.06 billion and a P/E ratio of -1.48.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that BETA Technologies will post -2.13 EPS for the current fiscal 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.