Better Home & Finance (NASDAQ:BETR) Lowered to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Better Home & Finance to “strong sell,” contrasting with the broader analyst consensus of “Moderate Buy,” based on eight Buy, two Hold, and one Sell rating and an average price target of $27.86.
• BETR shares opened at $12.95, well below the consensus target and near the company’s 52-week low of $11.11. The stock has fallen substantially from its 52-week high of $94.06.
• The company reported a quarterly loss of $1.64 per share, missing estimates by $0.23, alongside $54.7 million in revenue; analysts expect a full-year loss of $6.56 per share.

Better Home & Finance (NASDAQ:BETR - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

BETR has been the topic of several other research reports. Needham & Company LLC lowered their price objective on Better Home & Finance from $35.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Roth Capital set a $25.00 target price on shares of Better Home & Finance in a report on Thursday, August 13th. B. Riley Financial assumed coverage on shares of Better Home & Finance in a research note on Wednesday. They issued a "buy" rating and a $26.00 target price for the company. BTIG Research lowered their price target on shares of Better Home & Finance from $36.00 to $23.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Finally, CLSA upgraded shares of Better Home & Finance to a "buy" rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.86.

Better Home & Finance Stock Down 2.0%

Shares of BETR stock opened at $12.95 on Friday. The stock has a market cap of $246.05 million, a PE ratio of -1.18 and a beta of 1.68. The business has a 50-day simple moving average of $18.19 and a 200-day simple moving average of $27.10. Better Home & Finance has a 52-week low of $11.11 and a 52-week high of $94.06.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.23). The company had revenue of $54.70 million for the quarter. Better Home & Finance had a negative return on equity of 409.62% and a negative net margin of 94.52%. Sell-side analysts anticipate that Better Home & Finance will post -6.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Better Home & Finance news, insider Chad Smith sold 3,307 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total transaction of $42,494.95. Following the completion of the transaction, the insider directly owned 1,693 shares in the company, valued at approximately $21,755.05. This represents a 66.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 27.72% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BETR. Whetstone Capital Advisors LLC acquired a new position in shares of Better Home & Finance during the second quarter valued at approximately $6,985,000. California State Teachers Retirement System boosted its stake in shares of Better Home & Finance by 4,324.3% in the second quarter. California State Teachers Retirement System now owns 243,513 shares of the company's stock worth $6,697,000 after acquiring an additional 238,009 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Better Home & Finance in the fourth quarter worth approximately $2,457,000. Goldman Sachs Group Inc. increased its position in shares of Better Home & Finance by 1,465.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 73,685 shares of the company's stock worth $2,401,000 after purchasing an additional 68,977 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Better Home & Finance by 90.6% during the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after purchasing an additional 61,740 shares in the last quarter. 20.94% of the stock is owned by hedge funds and other institutional investors.

Better Home & Finance Company Profile

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner's insurance services. The company was founded in 2014 and is headquartered in New York, NY.

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