Wall Street Zen lowered shares of BETA Technologies (NYSE:BETA – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
Several other analysts also recently commented on BETA. Barclays initiated coverage on BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 target price on the stock. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 price target on shares of BETA Technologies in a report on Monday, October 5th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Weiss Ratings raised 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, BETA Technologies has an average rating of “Moderate Buy” and an average target price of $31.50.
Get Our Latest Stock Analysis on BETA
BETA Technologies Stock Performance
Shares of NYSE BETA opened at $19.79 on Friday. The firm’s 50 day moving average price is $21.41 and its 200-day moving average price is $19.34. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11.
BETA Technologies (NYSE:BETA – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The firm had revenue of $14.66 million for the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. On average, research analysts forecast that BETA Technologies will post -2.25 earnings per share for the current year.
Insider Buying and Selling
In other BETA Technologies news, insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $19.06, for a total transaction of $190,600.00. Following the completion of the sale, the insider directly owned 5,035,936 shares in the company, valued at approximately $95,984,940.16. The trade was a 0.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 313,901 shares of company stock valued at $7,306,318. Insiders own 24.47% of the company’s stock.
Hedge Funds Weigh In On BETA Technologies
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC lifted its holdings in BETA Technologies by 433.0% in the third quarter. Sterling Capital Management LLC now owns 2,761 shares of the company’s stock valued at $61,000 after acquiring an additional 2,243 shares during the period. Inspire Investing LLC purchased a new position in BETA Technologies in the third quarter worth about $622,000. Hanson & Doremus Investment Management purchased a new position in BETA Technologies in the third quarter worth about $374,000. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of BETA Technologies during the 3rd quarter valued at about $2,905,000. Finally, Triumph Capital Management bought a new stake in shares of BETA Technologies during the 3rd quarter valued at about $308,000.
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.
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