BETA Technologies’ (BETA) “Buy” Rating Reaffirmed at Needham & Company LLC

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $34.00 price target on the stock. Needham & Company LLC‘s target price suggests a potential upside of 79.59% from the company’s previous close.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a report on Monday, October 5th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reiterated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Barclays started coverage on shares of BETA Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Finally, Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BETA Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

BETA Technologies Stock Performance

Shares of NYSE BETA traded up $0.78 during mid-day trading on Wednesday, hitting $18.93. The stock had a trading volume of 112,611 shares, compared to its average volume of 1,800,499. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The company has a 50 day moving average of $21.71 and a two-hundred day moving average of $18.95. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The firm has a market cap of $4.27 billion and a PE ratio of -1.45.

BETA Technologies (NYSE:BETA) last issued its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The firm had revenue of $14.66 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. Research analysts predict that BETA Technologies will post -2.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kyle Clark sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $18.11, for a total transaction of $181,100.00. Following the sale, the insider directly owned 5,055,936 shares of the company’s stock, valued at $91,563,000.96. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 303,901 shares of company stock worth $7,115,718 over the last quarter. 24.47% of the stock is owned by company insiders.

Institutional Investors Weigh In On BETA Technologies

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new stake in BETA Technologies in the 1st quarter worth approximately $1,162,000. Masters Capital Management LLC acquired a new position in shares of BETA Technologies during the 1st quarter worth approximately $10,290,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in shares of BETA Technologies during the 3rd quarter worth approximately $2,905,000. Quantinno Capital Management LP acquired a new position in shares of BETA Technologies during the 1st quarter worth approximately $1,115,000. Finally, Corient Private Wealth LP raised its stake in shares of BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after buying an additional 81,150 shares during the period.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.