BTIG Research Has Lowered Expectations for BETA Technologies (NYSE:BETA) Stock Price

BETA Technologies (NYSE:BETA) had its price target decreased by stock analysts at BTIG Research from $40.00 to $33.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 126.23% from the company’s current price.

BETA has been the topic of a number of other research reports. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald lowered their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Citigroup lowered their price objective on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday. Jefferies Financial Group lowered their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, The Goldman Sachs Group lowered their price objective on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.11.

BETA Technologies Price Performance

BETA stock opened at $14.59 on Wednesday. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50. The company’s fifty day simple moving average is $16.43. The company has a market capitalization of $3.24 billion and a price-to-earnings ratio of -1.18.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. BETA Technologies’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts expect that BETA Technologies will post -2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kyle Clark sold 67,296 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52. Following the completion of the transaction, the insider directly owned 748,915 shares of the company’s stock, valued at $13,570,339.80. This represents a 8.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the sale, the chief financial officer directly owned 90,465 shares in the company, valued at $1,639,225.80. This represents a 17.04% decrease in their position. 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 three months, insiders sold 138,928 shares of company stock worth $2,517,375. 24.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On BETA Technologies

Large investors have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $38,000. Wolff Wiese Magana LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $42,000. Finally, California State Teachers Retirement System acquired a new stake in shares of BETA Technologies during the 1st quarter worth approximately $27,000.

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.