BETA Technologies (NYSE:BETA) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of BETA Technologies (NYSE:BETA) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group cut shares of BETA Technologies from a “buy” rating to a “hold” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Monday, November 9th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a report on Wednesday, November 4th. Barclays started coverage on shares of BETA Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $35.00 target price for the company. Finally, Needham & Company LLC decreased their price objective on BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BETA Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $30.70.

BETA Technologies Trading Down 7.4%

BETA stock traded down $1.87 on Friday, reaching $23.29. The company’s stock had a trading volume of 2,478,586 shares, compared to its average volume of 1,991,854. The business has a fifty day simple moving average of $21.60 and a two-hundred day simple moving average of $19.08. BETA Technologies has a 12-month low of $13.43 and a 12-month high of $32.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.51 and a current ratio of 11.51. The firm has a market cap of $5.27 billion and a PE ratio of -6.29.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The company had revenue of $17.67 million for the quarter. During the same quarter in the prior year, the firm earned ($9.83) EPS. BETA Technologies’s quarterly revenue was up 98.6% compared to the same quarter last year. As a group, research analysts forecast that BETA Technologies will post -2.22 EPS for the current year.

Insider Activity

In related news, insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $28.34, for a total value of $283,400.00. Following the sale, the insider directly owned 4,885,936 shares in the company, valued at approximately $138,467,426.24. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Sean Donovan sold 6,684 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $28.38, for a total value of $189,691.92. Following the sale, the chief operating officer directly owned 240,972 shares in the company, valued at $6,838,785.36. This trade represents a 2.70% 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. Insiders sold 316,372 shares of company stock worth $7,329,011 over the last ninety days. Insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new stake in BETA Technologies in the first quarter worth about $27,000. Allworth Financial LP boosted its position in BETA Technologies by 257.2% during the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after purchasing an additional 1,286 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after buying an additional 1,528 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in BETA Technologies by 50.7% in the third quarter. Steward Partners Investment Advisory LLC now owns 1,591 shares of the company’s stock valued at $35,000 after acquiring an additional 535 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after buying an additional 685 shares during the last quarter.

BETA Technologies Company Profile

BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer. Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.