BETA Technologies (NYSE:BETA) Reaches New 1-Year Low – Here’s Why

BETA Technologies Inc (NYSE:BETA) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.08 and last traded at $14.1180, with a volume of 1188317 shares. The stock had previously closed at $14.98.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BETA. Citigroup started coverage on shares of BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $41.00 price target on the stock. Weiss Ratings started coverage on BETA Technologies in a research note on Friday, January 30th. They set a “sell (d-)” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Monday, March 9th. The Goldman Sachs Group reduced their price target on shares of BETA Technologies from $43.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, March 17th. Finally, Morgan Stanley lowered their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.89.

BETA Technologies Stock Down 5.8%

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 cap of $3.12 billion and a PE ratio of -1.19. The stock has a 50-day moving average price of $19.42.

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

Institutional Investors Weigh In On BETA Technologies

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

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.