BETA Technologies (NYSE:BETA) Earns Overweight Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed its “overweight” rating on BETA Technologies and set a $31 price target, implying approximately 40.5% upside from the stock’s $22.06 price. Analysts’ consensus remains “Moderate Buy,” with an average target of $31.11.
• BETA shares were down 0.5% in trading, while the company reported a quarterly EPS loss of $0.64, missing estimates by $0.08, on revenue of $14.66 million. Analysts expect a full-year loss of about $2.25 per share.
• Insider activity was mixed: Director Michael Stone bought 13,125 shares, while insider Kyle Clark sold 10,000 shares; insiders have sold 233,901 shares worth $5.75 million over the past 90 days.

BETA Technologies (NYSE:BETA - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $31.00 price target on the stock. Cantor Fitzgerald's price objective suggests a potential upside of 40.53% from the stock's current price.

Other research analysts have also issued reports about the stock. 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. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Citigroup reissued a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, August 12th. Nine 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.11.

BETA Technologies Trading Down 0.5%

BETA opened at $22.06 on Monday. The stock has a market cap of $4.97 billion and a PE ratio of -1.69. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a fifty day moving average of $22.03 and a 200-day moving average of $18.57. 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 issued its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The company 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%. On average, sell-side analysts predict that BETA Technologies will post -2.25 EPS for the current year.

Insider Transactions at BETA Technologies

In related news, insider Kyle Clark sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00. Following the completion of the sale, the insider owned 5,175,936 shares in the company, valued at approximately $113,870,592. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Stone acquired 13,125 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, with a total value of $251,868.75. Following the acquisition, the director directly owned 1,792,994 shares of the company's stock, valued at $34,407,554.86. The trade was a 0.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 233,901 shares of company stock valued at $5,753,118 in the last 90 days. 24.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BETA Technologies

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company's stock worth $49,000 after purchasing 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 worth about $35,000. Allworth Financial LP increased its stake 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 worth $30,000 after purchasing an additional 1,286 shares in the last quarter. Manchester Capital Management LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth about $38,000. Finally, IFP Advisors Inc increased its stake 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 worth $30,000 after purchasing an additional 1,528 shares in the last quarter.

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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.