BETA Technologies (NYSE:BETA) Trading Down 5.7% – Time to Sell?

Shares of BETA Technologies Inc (NYSE:BETA) fell 5.7% on Friday . The stock traded as low as $26.86 and last traded at $26.91. 159,932 shares were traded during mid-day trading, a decline of 80% from the average session volume of 812,357 shares. The stock had previously closed at $28.55.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BETA shares. The Goldman Sachs Group assumed coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued a “buy” rating and a $47.00 target price on the stock. BTIG Research began coverage on shares of BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $40.00 price target on the stock. Needham & Company LLC initiated coverage on shares of BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $34.00 price objective for the company. Jefferies Financial Group assumed coverage on BETA Technologies in a research note on Sunday, November 30th. They issued a “hold” rating and a $30.00 target price on the stock. Finally, Bank of America boosted their price target on BETA Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, BETA Technologies currently has an average rating of “Moderate Buy” and an average price target of $38.13.

BETA Technologies Stock Down 0.7%

The firm has a 50-day moving average price of $28.95. The company has a market capitalization of $6.25 billion and a PE ratio of -2.89.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Thursday, December 4th. The company reported ($9.83) earnings per share (EPS) for the quarter. The company had revenue of $8.92 million for the quarter, compared to the consensus estimate of $7.50 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BETA Technologies stock. Green Alpha Advisors LLC purchased a new position in BETA Technologies Inc (NYSE:BETA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,373 shares of the company’s stock, valued at approximately $603,000.

About BETA Technologies

BETA Technologies is an aerospace company focused on the development and manufacture of electric aircraft and the supporting infrastructure required to operate them. The firm designs and tests electric vertical takeoff and landing (eVTOL) and short-range electric aircraft intended for passenger and cargo missions, with an emphasis on reducing carbon emissions and operating costs for regional transport and logistics applications.

In addition to airframes and propulsion systems, BETA develops charging and ground-support technologies to enable routine electric flight operations.