BETA Technologies (NYSE:BETA) Stock Keeps “Buy” Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of BETA Technologies (NYSE:BETA) in a report published on Friday morning,Benzinga reports. They currently have a $33.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Needham & Company LLC cut their price objective on shares of BETA Technologies from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a research note on Wednesday. Finally, Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.90.

BETA Technologies Price Performance

NYSE BETA traded up $3.04 during mid-day trading on Friday, hitting $27.09. The stock had a trading volume of 3,235,677 shares, compared to its average volume of 1,602,466. The firm’s 50 day moving average is $20.96 and its 200 day moving average is $19.04. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $36.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The stock has a market capitalization of $6.13 billion and a price-to-earnings ratio of -7.32.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The company had revenue of $17.67 million for the quarter. During the same quarter in the previous year, the business posted ($9.83) EPS. The company’s revenue for the quarter was up 98.6% on a year-over-year basis. Equities research analysts forecast that BETA Technologies will post -2.25 earnings per share 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 Wednesday, November 4th. The stock was sold at an average price of $24.90, for a total transaction of $249,000.00. Following the completion of the sale, the insider directly owned 4,935,936 shares of the company’s stock, valued at approximately $122,904,806.40. This trade represents a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 358,901 shares of company stock valued at $8,204,568 in the last quarter. 24.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System purchased a new stake in BETA Technologies during the first quarter worth about $27,000. Allworth Financial LP increased its stake in BETA Technologies by 257.2% during the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after buying an additional 1,286 shares during the period. IFP Advisors Inc lifted its holdings in BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after buying an additional 1,528 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in BETA Technologies in the 4th quarter valued at approximately $35,000. Finally, Parallel Advisors LLC grew its stake in shares of BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter.

About BETA Technologies

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.