Better Home & Finance (NASDAQ:BETR) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen cut shares of Better Home & Finance (NASDAQ:BETR) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other research firms also recently commented on BETR. Roth Capital set a $25.00 target price on shares of Better Home & Finance in a research report on Thursday, August 13th. Needham & Company LLC cut their price target on Better Home & Finance from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $42.00 price target on shares of Better Home & Finance in a research note on Tuesday, August 4th. Cantor Fitzgerald lowered Better Home & Finance from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $16.00 in a report on Thursday, August 13th. Finally, BTIG Research lowered their price objective on Better Home & Finance from $36.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Better Home & Finance presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.86.

Better Home & Finance Stock Down 1.4%

Shares of BETR opened at $12.77 on Friday. The business’s fifty day moving average is $17.85 and its 200 day moving average is $26.99. Better Home & Finance has a 12-month low of $11.11 and a 12-month high of $94.06. The stock has a market cap of $242.63 million, a P/E ratio of -1.16 and a beta of 1.68.

Better Home & Finance (NASDAQ:BETR) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.23). Better Home & Finance had a negative net margin of 94.52% and a negative return on equity of 409.62%. The business had revenue of $54.70 million for the quarter. On average, analysts expect that Better Home & Finance will post -7.2 EPS for the current year.

Insider Buying and Selling at Better Home & Finance

In related news, insider Chad Smith sold 3,307 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total transaction of $42,494.95. Following the transaction, the insider directly owned 1,693 shares in the company, valued at approximately $21,755.05. The trade was a 66.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.72% of the stock is owned by insiders.

Institutional Investors Weigh In On Better Home & Finance

Several institutional investors and hedge funds have recently added to or reduced their stakes in BETR. Bank of New York Mellon Corp lifted its position in shares of Better Home & Finance by 4.1% during the 1st quarter. Bank of New York Mellon Corp now owns 13,890 shares of the company’s stock worth $495,000 after buying an additional 548 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Better Home & Finance by 1,264.0% in the first quarter. Royal Bank of Canada now owns 2,728 shares of the company’s stock valued at $97,000 after acquiring an additional 2,528 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Better Home & Finance in the first quarter valued at approximately $262,000. Stoic Point Capital Management LLC purchased a new stake in shares of Better Home & Finance during the first quarter valued at approximately $467,000. Finally, Alpine Global Management LLC purchased a new stake in shares of Better Home & Finance during the fourth quarter valued at approximately $456,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

Better Home & Finance Company Profile

Better Home & Finance Holding Company is a technology-driven homeownership platform that provides digital products and services intended to simplify the process of buying, financing and owning a home. Its platform connects consumers with mortgage lending, real estate and related homeownership services through an online experience.

The company’s primary business is Better Mortgage, which offers residential home loans, including purchase mortgages and refinancing products. Better also operates services focused on real estate transactions and settlement, including Better Real Estate and Better Settlement Services.