BETA Technologies (NYSE:BETA) Price Target Lowered to $38.00 at The Goldman Sachs Group

BETA Technologies (NYSE:BETA) had its price target decreased by The Goldman Sachs Group from $43.00 to $38.00 in a research note published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also weighed in on the stock. Bank of America raised their target price on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. UBS Group set a $24.00 price target on BETA Technologies and gave the company a “buy” rating in a report on Monday, February 9th. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. BTIG Research reissued a “buy” rating and set a $40.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Finally, Morgan Stanley dropped their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BETA Technologies has a consensus rating of “Moderate Buy” and an average price target of $34.89.

BETA Technologies Stock Down 6.8%

Shares of NYSE BETA opened at $15.71 on Tuesday. The firm has a 50-day simple moving average of $21.21. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The firm has a market capitalization of $3.48 billion and a PE ratio of -1.60. BETA Technologies has a 52 week low of $15.61 and a 52 week high of $39.50.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The company had revenue of $11.13 million for the quarter, compared to analysts’ expectations of $6.69 million. The company’s revenue for the quarter was up 152.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $35,000. T. Rowe Price Investment Management Inc. acquired a new position in BETA Technologies during the 4th quarter worth about $35,347,000. Zimmer Partners LP purchased a new position in BETA Technologies during the 4th quarter valued at about $2,116,000. Symmetry Investments LP purchased a new position in BETA Technologies during the 4th quarter valued at about $1,269,000. Finally, Quadrature Capital Ltd acquired a new position in BETA Technologies in the 4th quarter valued at about $246,000.

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.