Needham & Company LLC restated their buy rating on shares of BETA Technologies (NYSE:BETA – Free Report) in a report published on Wednesday,Benzinga reports. The firm currently has a $34.00 price objective on the stock.
Other analysts also recently issued research reports about the company. BTIG Research reissued a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup restated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Barclays began coverage on BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Monday, October 5th. Finally, Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BETA Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.
Read Our Latest Stock Analysis on BETA Technologies
BETA Technologies Price Performance
NYSE:BETA opened at $19.84 on Wednesday. The business’s 50-day simple moving average is $21.35 and its two-hundred day simple moving average is $19.00. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. The stock has a market cap of $4.47 billion and a PE ratio of -1.52. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11.
BETA Technologies (NYSE:BETA – Get Free Report) last released its quarterly earnings data 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). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The business had revenue of $14.66 million during the quarter. As a group, analysts forecast that BETA Technologies will post -2.25 EPS for the current fiscal year.
Insider Activity
In other news, Director Michael Stone bought 13,125 shares of BETA Technologies stock in a transaction dated Wednesday, September 2nd. The shares were purchased at an average cost of $19.19 per share, with a total value of $251,868.75. Following the completion of the acquisition, the director owned 1,792,994 shares of the company’s stock, valued at $34,407,554.86. This trade represents a 0.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kyle Clark sold 30,000 shares of BETA Technologies stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider directly owned 5,396,941 shares in the company, valued at $137,190,240.22. This trade represents a 0.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 313,901 shares of company stock valued at $7,306,318 in the last three months. Insiders own 24.47% of the company’s stock.
Hedge Funds Weigh In On BETA Technologies
Institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of BETA Technologies by 26.0% during the 1st 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. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies in the fourth quarter valued at $35,000. Allworth Financial LP grew its holdings in shares of BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after purchasing an additional 1,286 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares in the last quarter. Finally, California State Teachers Retirement System bought a new stake in BETA Technologies in the first quarter worth $27,000.
Trending Headlines about BETA Technologies
Here are the key news stories impacting BETA Technologies this week:
- Positive Sentiment: FAA authorization advances commercial eVTOL plans: BETA reportedly became the first company to secure landmark Federal Aviation Administration authorization allowing its electric VTOL aircraft to conduct passenger-carrying flights. The approval strengthens the company’s path toward commercial operations, validates its aircraft and operating procedures, and could expand future revenue opportunities. BETA secures FAA approval for eVTOL aircraft flights
- Positive Sentiment: Broader industry attention supports the catalyst: Coverage indicates BETA’s electric aircraft is entering new operating territories following the FAA authorization, highlighting progress in testing, market surveys and the potential transition from development toward customer service. BETA Technologies takes electric planes to new territories
- Positive Sentiment: Analyst remains constructive: Needham & Company reaffirmed its Buy rating on BETA, providing additional support for investor sentiment after the regulatory announcement. BETA stock rating reaffirmed as Buy by Needham
- Neutral Sentiment: Insider sale disclosed: Director and insider Kyle Clark sold 10,000 shares for approximately $190,600, reducing his ownership by about 0.20%. The relatively small sale may attract attention but leaves him with more than 5 million shares, limiting its significance as a standalone signal. Kyle Clark insider transaction
BETA Technologies Company Profile
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.
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