Brokerages Set BETA Technologies Inc (NYSE:BETA) Target Price at $33.56

Shares of BETA Technologies Inc (NYSE:BETA) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $33.5556.

BETA has been the subject of a number of research reports. 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. Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. UBS Group set a $24.00 price objective on shares of BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Weiss Ratings started coverage on shares of BETA Technologies in a report on Friday, January 30th. They issued a “sell (d-)” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $38.00 target price on shares of BETA Technologies in a research report on Tuesday, March 10th.

BETA Technologies Trading Up 5.6%

Shares of NYSE BETA opened at $18.14 on Thursday. The company has a market capitalization of $4.01 billion and a price-to-earnings ratio of -1.53. The business’s 50 day moving average price is $16.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results 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 company had revenue of $11.13 million during the quarter, compared to analyst estimates of $6.69 million. The firm’s quarterly revenue was up 152.3% compared to the same quarter last year. Analysts forecast that BETA Technologies will post -2.2 EPS for the current year.

Institutional Investors Weigh In On BETA Technologies

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