BETA Technologies (NYSE:BETA) Earns "Buy" Rating from Needham & Company LLC

Key Points

• Needham reaffirmed a “Buy” rating on BETA Technologies with a $34 price target, implying 81.47% upside from the previous close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $31.50.
• BETA shares closed at $18.74, while the company reported a quarterly loss of $0.64 per share, missing estimates, on revenue of $14.66 million. Analysts expect a full-year loss of approximately $2.25 per share.
• The company is advancing toward commercialization after FAA authorization to fly customers aboard its ALIA eVTOL aircraft, while insiders have sold roughly 303,901 shares worth $7.1 million over the past three months.

BETA Technologies (NYSE:BETA - Get Free Report)'s stock had its "buy" rating reissued by Needham & Company LLC in a report released on Wednesday, Benzinga reports. They presently have a $34.00 price objective on the stock. Needham & Company LLC's price target would suggest a potential upside of 81.47% from the stock's previous close.

BETA has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $31.00 price target on shares of BETA Technologies in a research report on Monday, October 5th. Barclays began coverage on shares of BETA Technologies in a research report on Friday, October 9th. They issued an "overweight" rating and a $35.00 price objective on the stock. BTIG Research reissued a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Finally, Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, BETA Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.

BETA Technologies Price Performance

BETA Technologies stock traded up $0.59 on Wednesday, reaching $18.74. The company's stock had a trading volume of 1,067,202 shares, compared to its average volume of 1,805,260. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a market cap of $4.22 billion and a price-to-earnings ratio of -1.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The business's fifty day moving average price is $21.71 and its 200 day moving average price is $18.95.

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

Insider Activity at BETA Technologies

In related news, insider Kyle Clark sold 10,000 shares of the business's stock in a transaction on Monday, October 19th. The shares were sold at an average price of $18.11, for a total transaction of $181,100.00. Following the transaction, the insider owned 5,055,936 shares in the company, valued at $91,563,000.96. The trade was a 0.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 303,901 shares of company stock worth $7,115,718. Company insiders own 24.47% of the company's stock.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BETA. Masters Capital Management LLC acquired a new position in BETA Technologies during the 1st quarter valued at about $10,290,000. Bank of America Corp DE grew its position in shares of BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock valued at $5,117,000 after acquiring an additional 187,807 shares during the period. Cliftonlarsonallen Wealth Advisors LLC purchased a new position in shares of BETA Technologies during the 3rd quarter valued at $2,905,000. Bank of New York Mellon Corp purchased a new position in shares of BETA Technologies in the second quarter worth about $2,877,000. Finally, Corient Private Wealth LP grew its position in shares of BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock valued at $2,531,000 after purchasing an additional 81,150 shares in the last quarter.

BETA Technologies News Roundup

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

• Positive Sentiment: The FAA authorization allows BETA to fly customers aboard ALIA, moving the aircraft beyond testing and toward revenue-generating passenger operations. This is likely the main catalyst behind the stock’s strength. FAA allows BETA Technologies to fly customers on ALIA eVTOL
• Positive Sentiment: Coverage highlighted the aircraft authorization as a reason BETA shares climbed, reinforcing the market’s view that regulatory progress could unlock commercial growth. Beta Technologies Shares Climb on Aircraft Authorization
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $34 price target, implying substantial potential upside from recent trading levels. The bullish target reflects expectations for progress in BETA’s eVTOL commercialization. Needham rating update
• Positive Sentiment: BETA’s expanding South Burlington operations, known locally as “Betaville,” signal continued investment in manufacturing and infrastructure as the company scales. As BETA Technologies Grows, Betaville Sprouts in South Burlington

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.