BETA Technologies (NYSE:BETA) Price Target Cut to $31.00 by Analysts at Cantor Fitzgerald

BETA Technologies (NYSE:BETAFree Report) had its target price reduced by Cantor Fitzgerald from $38.00 to $31.00 in a research report report published on Wednesday morning, Marketbeat reports. They currently have an overweight rating on the stock.

Several other brokerages also recently commented on BETA. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. UBS Group set a $24.00 target price on shares of BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Citigroup dropped their price target on BETA Technologies from $41.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Jefferies Financial Group cut their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.78.

View Our Latest Report on BETA

BETA Technologies Trading Up 2.9%

Shares of NYSE BETA opened at $18.64 on Wednesday. The firm has a market capitalization of $4.12 billion and a P/E ratio of -1.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. BETA Technologies has a 12 month low of $13.43 and a 12 month high of $39.50. The business’s 50-day simple moving average is $16.76.

BETA Technologies (NYSE:BETAGet Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that BETA Technologies will post -2.2 earnings per share for the current year.

Insiders Place Their Bets

In other BETA Technologies news, CTO David Lawrence Churchill sold 18,981 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $343,935.72. Following the transaction, the chief technology officer directly owned 552,647 shares of the company’s stock, valued at approximately $10,013,963.64. The trade was a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 4,965 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $89,965.80. Following the sale, the insider directly owned 49,746 shares of the company’s stock, valued at approximately $901,397.52. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 138,928 shares of company stock valued at $2,517,375 in the last 90 days. Company insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Several large investors have recently modified their holdings of BETA. General Electric Co acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $644,962,000. TPG GP A LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $462,515,000. Amazon Com Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $331,577,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $77,089,000. Finally, Norges Bank acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $41,485,000.

BETA Technologies News Roundup

Here are the key news stories impacting BETA Technologies this week:

About BETA Technologies

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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.

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Analyst Recommendations for BETA Technologies (NYSE:BETA)

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