Citigroup Cuts BETA Technologies (NYSE:BETA) Price Target to $33.00

BETA Technologies (NYSE:BETA) had its price target lowered by Citigroup from $41.00 to $33.00 in a research note published on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. Bank of America increased their price target on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Weiss Ratings began coverage on shares of BETA Technologies in a report on Friday, January 30th. They set a “sell (d-)” rating for the company. Jefferies Financial Group reduced their target price on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of BETA Technologies in a research report on Tuesday, March 10th. Finally, BTIG Research reaffirmed a “buy” rating and set a $40.00 price target on shares of BETA Technologies in a research note on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.00.

BETA Technologies Stock Up 0.0%

BETA Technologies stock opened at $15.44 on Thursday. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. The business’s 50-day simple moving average is $17.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. The stock has a market capitalization of $3.41 billion and a PE ratio of -1.30.

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

Hedge Funds Weigh In On BETA Technologies

Several institutional investors and hedge funds have recently made changes to their positions in BETA. Sandia Investment Management LP purchased a new position in BETA Technologies in the 4th quarter worth $26,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies during the fourth quarter valued at about $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies during the fourth quarter valued at about $38,000. Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth about $42,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth about $70,000.

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.