BETA Technologies (NYSE:BETA) Stock Picked Up by Analysts at Barclays

Key Points

• Barclays initiated coverage of BETA Technologies with an “overweight” rating and a $35 price target, implying roughly 70% upside from the stock’s $20.55 opening price.
• Analyst sentiment is broadly positive: 10 analysts rate the stock a Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $31.50.
• BETA reported a quarterly loss of $0.64 per share, missing estimates, on $14.66 million in revenue; the company remains unprofitable, while insiders own 24.47% of shares and have sold approximately $6.0 million of stock over the past 90 days.

Stock analysts at Barclays initiated coverage on shares of BETA Technologies (NYSE:BETA - Get Free Report) in a research note issued to investors on Friday, Briefing.com reports. The firm set an "overweight" rating and a $35.00 price target on the stock. Barclays's target price suggests a potential upside of 70.27% from the company's current price.

A number of other research analysts also recently weighed in on BETA. Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research reissued a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and set a $31.00 target price on shares of BETA Technologies in a report on Monday. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, August 12th. Ten 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, BETA Technologies presently has an average rating of "Moderate Buy" and an average target price of $31.50.

BETA Technologies Stock Performance

BETA stock opened at $20.55 on Friday. BETA Technologies has a 1-year low of $13.43 and a 1-year 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. The firm has a market cap of $4.63 billion and a PE ratio of -1.58. The business's 50-day moving average price is $22.26 and its two-hundred day moving average price is $18.73.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings data 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). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The company had revenue of $14.66 million for the quarter. As a group, research analysts forecast that BETA Technologies will post -2.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Michael Stone acquired 13,125 shares of the business'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 in the company, valued at $34,407,554.86. The trade was a 0.74% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kyle Clark sold 10,000 shares of the business's stock in a transaction on Monday, October 5th. The stock was sold at an average price of $21.30, for a total value of $213,000.00. Following the sale, the insider owned 5,155,936 shares in the company, valued at $109,821,436.80. This represents a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 243,901 shares of company stock worth $5,966,118. Company insiders own 24.47% of the company's stock.

Hedge Funds Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of BETA. Farther Finance Advisors LLC boosted its stake in shares of BETA Technologies by 275.0% during the third quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company's stock valued at $102,000 after purchasing an additional 3,388 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of BETA Technologies in the second quarter valued at approximately $235,000. 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 valued at $30,000 after buying an additional 1,528 shares during the period. Squarepoint Ops LLC bought a new position in BETA Technologies in the 2nd quarter valued at approximately $2,045,000. Finally, Allworth Financial LP raised its holdings in BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company's stock valued at $30,000 after buying an additional 1,286 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.