BETA Technologies (NYSE:BETA) Shares Gap Up – Time to Buy?

BETA Technologies Inc (NYSE:BETA) gapped up before the market opened on Wednesday . The stock had previously closed at $16.77, but opened at $19.98. BETA Technologies shares last traded at $19.02, with a volume of 1,352,569 shares.

Wall Street Analyst Weigh In

Several research firms recently commented on BETA. Bank of America raised their target price on BETA Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. BTIG Research initiated coverage on BETA Technologies in a report on Monday, December 1st. They set a “buy” rating and a $40.00 price target on the stock. The Goldman Sachs Group started coverage on shares of BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $47.00 price objective on the stock. Morgan Stanley assumed coverage on shares of BETA Technologies in a research note on Monday, December 1st. They set an “overweight” rating and a $34.00 target price on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set an “overweight” rating and a $42.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.56.

BETA Technologies Trading Up 10.6%

The company has a 50 day moving average of $26.68. The firm has a market capitalization of $4.09 billion and a P/E ratio of -1.89.

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

Institutional Investors Weigh In On BETA Technologies

Several hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC purchased a new position in BETA Technologies in the 4th quarter worth about $38,000. Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth approximately $42,000. Parallel Advisors LLC acquired a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $74,000. Clean Yield Group acquired a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $235,000. Finally, Kingdom Financial Group LLC. purchased a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $297,000.

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.