The Goldman Sachs Group Cuts BETA Technologies (NYSE:BETA) Price Target to $38.00

BETA Technologies (NYSE:BETA) had its target price cut by analysts at The Goldman Sachs Group from $43.00 to $38.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 130.88% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Weiss Ratings began coverage on shares of BETA Technologies in a research report on Friday, January 30th. They issued a “sell (d-)” rating for the company. Morgan Stanley dropped their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 target price on shares of BETA Technologies in a research note on Tuesday, March 10th. Finally, BTIG Research restated a “buy” rating and issued a $40.00 price target on shares of BETA Technologies in a report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.89.

BETA Technologies Price Performance

Shares of BETA Technologies stock traded down $0.39 during trading on Tuesday, hitting $16.46. 228,938 shares of the company were exchanged, compared to its average volume of 1,157,086. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The company has a market capitalization of $3.64 billion and a price-to-earnings ratio of -1.67. The stock has a fifty day moving average price of $21.48. BETA Technologies has a 1-year low of $15.61 and a 1-year high of $39.50.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The company had revenue of $11.13 million for the quarter, compared to analyst estimates of $6.69 million. The business’s quarterly revenue was up 152.3% compared to the same quarter last year.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. Seven Grand Managers LLC acquired a new stake in BETA Technologies in the 4th quarter valued at approximately $8,422,000. UBS Group AG bought a new position in shares of BETA Technologies during the 4th quarter worth approximately $5,357,000. General Electric Co acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $644,962,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $77,089,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BETA Technologies in the fourth quarter worth $478,000.

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.