BETA Technologies (NYSE:BETA) Given Buy Rating at Needham & Company LLC

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reissued by Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $34.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 87.35% from the stock’s current price.

Several other equities research analysts also recently issued reports on the company. UBS Group set a $24.00 target price on BETA Technologies and gave the stock a “buy” rating in a research report on Monday, February 9th. The Goldman Sachs Group dropped their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Morgan Stanley dropped their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group dropped their target price on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.56.

BETA Technologies Trading Down 2.4%

BETA Technologies stock opened at $18.15 on Wednesday. BETA Technologies has a 12 month low of $13.43 and a 12 month high of $39.50. 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 firm has a 50 day moving average price of $16.79. The stock has a market capitalization of $4.02 billion and a P/E ratio of -1.53.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that BETA Technologies will post -2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BETA Technologies

In other BETA Technologies news, insider Kyle Clark sold 4,965 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $89,965.80. Following the completion of the sale, the insider directly owned 49,746 shares in the company, valued at $901,397.52. This represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Dunkiel sold 9,684 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $175,474.08. Following the sale, the insider owned 132,241 shares of the company’s stock, valued at approximately $2,396,206.92. The trade was a 6.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 138,928 shares of company stock valued at $2,517,375. 24.47% of the stock is currently owned by insiders.

Institutional Trading of BETA Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its position in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares during the period. Wealthfront Advisers LLC purchased a new stake in BETA Technologies during the first quarter valued at about $257,000. Bank of New York Mellon Corp purchased a new stake in shares of BETA Technologies during the first quarter worth about $1,162,000. Strs Ohio purchased a new stake in shares of BETA Technologies during the first quarter worth about $85,000. Finally, Capricorn Fund Managers Ltd boosted its holdings in shares of BETA Technologies by 318.5% during the first quarter. Capricorn Fund Managers Ltd now owns 83,696 shares of the company’s stock worth $1,230,000 after purchasing an additional 63,696 shares during the period.

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.