BETA Technologies (NYSE:BETA) Trading Down 7.3% – Here’s What Happened

Shares of BETA Technologies Inc (NYSE:BETA) fell 7.3% on Wednesday . The stock traded as low as $25.91 and last traded at $26.13. 228,919 shares were traded during trading, a decline of 69% from the average session volume of 748,804 shares. The stock had previously closed at $28.18.

Wall Street Analysts Forecast Growth

BETA has been the subject of several research analyst reports. Bank of America upped their price target on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Morgan Stanley initiated coverage on BETA Technologies in a research report on Monday, December 1st. They issued an “overweight” rating and a $34.00 target price on the stock. BTIG Research started coverage on BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $40.00 price target for the company. Cantor Fitzgerald assumed coverage on BETA Technologies in a report on Monday, December 1st. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, Jefferies Financial Group assumed coverage on BETA Technologies in a report on Sunday, November 30th. They set a “hold” rating and a $30.00 target price for the company. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.13.

BETA Technologies Stock Down 8.1%

The business’s 50-day moving average price is $28.66. The stock has a market capitalization of $5.71 billion and a P/E ratio of -2.64.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Thursday, December 4th. The company reported ($9.83) earnings per share for the quarter. The firm had revenue of $8.92 million for the quarter, compared to analyst estimates of $7.50 million.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the company. Green Alpha Advisors LLC bought a new stake in BETA Technologies in the 4th quarter valued at about $603,000. SG Americas Securities LLC acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $1,386,000. Wolff Wiese Magana LLC bought a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $42,000. Stratos Wealth Partners LTD. acquired a new position in shares of BETA Technologies during the fourth quarter worth approximately $360,000. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of BETA Technologies during the fourth quarter worth approximately $564,000.

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.