Brokerages Set BETA Technologies Inc (NYSE:BETA) Target Price at $31.11

BETA Technologies Inc (NYSE:BETA) has received an average rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $31.1111.

A number of brokerages have recently issued reports on BETA. The Goldman Sachs Group dropped their target price on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Cantor Fitzgerald lowered their price target on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. BTIG Research dropped their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th.

Insiders Place Their Bets

In related news, insider Kyle Clark sold 15,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $17.41, for a total value of $261,150.00. Following the sale, the insider owned 5,554,837 shares in the company, valued at approximately $96,709,712.17. This represents a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sean Donovan sold 19,008 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $344,424.96. Following the sale, the chief operating officer directly owned 176,195 shares of the company’s stock, valued at $3,192,653.40. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 243,928 shares of company stock worth $4,220,475 in the last quarter. Insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

A number of hedge funds have recently modified their holdings of BETA. Sandia Investment Management LP bought a new stake in shares of BETA Technologies during the 4th quarter worth about $26,000. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the 4th quarter valued at about $35,000. Manchester Capital Management LLC bought a new position in BETA Technologies in the 4th quarter valued at about $38,000. Wolff Wiese Magana LLC bought a new position in BETA Technologies in the 4th quarter valued at about $42,000. Finally, California State Teachers Retirement System acquired a new stake in BETA Technologies during the first quarter worth approximately $27,000.

BETA Technologies Price Performance

Shares of BETA opened at $17.65 on Tuesday. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $16.99 and its 200 day simple moving average is $18.79. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50. The company has a market cap of $3.92 billion and a price-to-earnings ratio of -1.43.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The firm’s revenue was up 5.2% on a year-over-year basis. On average, research analysts forecast that BETA Technologies will post -2.17 earnings per share for the current fiscal year.

BETA Technologies Company Profile

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.