BETA Technologies (NYSE:BETA) Reaches New 12-Month Low Following Analyst Downgrade

BETA Technologies Inc (NYSE:BETA)’s share price hit a new 52-week low on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. BETA Technologies traded as low as $15.51 and last traded at $15.6450, with a volume of 160516 shares traded. The stock had previously closed at $15.76.

Several other equities research analysts have also commented on the company. Bank of America upped their target price on BETA Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. UBS Group set a $24.00 target price on BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Jefferies Financial Group dropped their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. BTIG Research restated a “buy” rating and set a $40.00 price target on shares of BETA Technologies in a report on Tuesday, March 10th. Finally, Citigroup started coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $41.00 price objective for the company. Nine research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.89.

Institutional Inflows and Outflows

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

BETA Technologies Stock Performance

The company has a market cap of $3.28 billion and a price-to-earnings ratio of -1.51. The company has a current ratio of 22.77, a quick ratio of 22.77 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $20.93.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The firm had revenue of $11.13 million during the quarter, compared to analysts’ expectations of $6.69 million. BETA Technologies’s quarterly revenue was up 152.3% compared to the same quarter last 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.