BETA Technologies (NYSE:BETA) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of BETA Technologies (NYSE:BETA) in a research report report published on Thursday,Benzinga reports. They currently have a $34.00 target price on the stock.

Other research analysts also recently issued research reports about the company. Bank of America raised their price target on BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Jefferies Financial Group initiated coverage on shares of BETA Technologies in a research report on Sunday, November 30th. They set a “hold” rating and a $30.00 price objective on the stock. The Goldman Sachs Group started coverage on shares of BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $47.00 target price for the company. Morgan Stanley started coverage on BETA Technologies in a report on Monday, December 1st. They set an “overweight” rating and a $34.00 price target on the stock. Finally, Wall Street Zen downgraded BETA Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

BETA Technologies Stock Performance

Shares of BETA Technologies stock opened at $27.65 on Thursday. The firm has a fifty day moving average of $28.83. BETA Technologies has a 12-month low of $22.40 and a 12-month high of $39.50. The firm has a market cap of $6.10 billion and a PE ratio of -2.81.

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

Hedge Funds Weigh In On BETA Technologies

Large investors have recently modified their holdings of the business. Wolff Wiese Magana LLC acquired a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $42,000. Green Alpha Advisors LLC acquired a new position in BETA Technologies during the fourth quarter worth about $603,000. Finally, SG Americas Securities LLC purchased a new position in BETA Technologies in the fourth quarter valued at about $1,386,000.

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.