BETA Technologies (NYSE:BETA) Price Target Lowered to $33.00 at Citigroup

BETA Technologies (NYSE:BETA) had its target price lowered by Citigroup from $41.00 to $33.00 in a report published on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings initiated coverage on BETA Technologies in a report on Friday, January 30th. They set a “sell (d-)” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 target price on shares of BETA Technologies in a research report on Tuesday, March 10th. Morgan Stanley cut their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. Jefferies Financial Group reduced their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Monday, March 9th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.00.

BETA Technologies Trading Up 2.3%

BETA stock opened at $15.44 on Thursday. The company has a market cap of $3.41 billion and a price-to-earnings ratio of -1.30. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. The stock has a 50-day simple moving average of $18.18. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50.

BETA Technologies (NYSE:BETA) last announced its earnings results on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The company had revenue of $11.13 million during the quarter, compared to the consensus estimate of $6.69 million. The business’s revenue for the quarter was up 152.3% on a year-over-year basis.

Hedge Funds Weigh In On BETA Technologies

Institutional investors have recently modified their holdings of the company. Sandia Investment Management LP acquired a new stake in BETA Technologies in the 4th quarter valued at $26,000. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies during the fourth quarter worth $35,000. Manchester Capital Management LLC acquired a new position in BETA Technologies during the fourth quarter worth $38,000. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies in the fourth quarter valued at $42,000. Finally, Kestra Advisory Services LLC bought a new position in shares of BETA Technologies in the fourth quarter valued at $70,000.

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.