BETA Technologies Inc (NYSE:BETA) Stock Has Consensus Price Target of $31.11

BETA Technologies Inc (NYSE:BETA – Get Free Report) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $31.11.

Several equities research analysts have issued reports on BETA shares. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. BTIG Research reissued a “buy” rating and set a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Citigroup restated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th.

Get Our Latest Stock Report on BETA Technologies

BETA Technologies Price Performance

BETA stock opened at $22.47 on Friday. The stock’s 50 day moving average price is $21.81 and its 200 day moving average price is $18.47. The firm has a market cap of $5.07 billion and a P/E ratio of -1.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. BETA Technologies has a 1 year low of $13.43 and a 1 year high of $39.50.

BETA Technologies (NYSE:BETA – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The company had revenue of $14.66 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, sell-side analysts expect that BETA Technologies will post -2.25 earnings per share for the current fiscal year.

Insider Activity

In other BETA Technologies news, insider Kyle Clark sold 30,000 shares of BETA Technologies stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total value of $762,600.00. Following the transaction, the insider owned 5,396,941 shares in the company, valued at $137,190,240.22. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Stone acquired 13,125 shares of BETA Technologies stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average cost of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the purchase, the director directly owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. This represents a 0.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have sold 213,901 shares of company stock worth $5,306,918. Insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. bought a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the fourth quarter worth $38,000. Allworth Financial LP lifted its holdings in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,286 shares during the period. IFP Advisors Inc grew its position in BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after buying an additional 1,528 shares in the last quarter. Finally, California State Teachers Retirement System bought a new position in BETA Technologies in the 1st quarter valued at about $27,000.

About BETA Technologies

(Get Free Report)

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA’s aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.

See Also

Analyst Recommendations for BETA Technologies (NYSE:BETA)

Receive News & Ratings for BETA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BETA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.