Wall Street Zen Upgrades BETA Technologies (NYSE:BETA) to Hold

Key Points

• Wall Street Zen upgraded BETA Technologies from “sell” to “hold.” The broader analyst consensus remains “Moderate Buy,” with 10 Buy, one Hold, and one Sell rating and an average price target of $31.50.
• BETA shares opened at $20.04, down 2.6%, with a 52-week range of $13.43 to $39.50. The company reported a quarterly loss of $0.64 per share, missing estimates by $0.08, on revenue of $14.66 million.
• Insider activity was mixed: an insider sold 30,000 shares, while a director purchased 13,125 shares. BETA develops electric aircraft, including its ALIA eVTOL and fixed-wing models, for cargo, passenger, medical, logistics, and defense uses.

BETA Technologies (NYSE:BETA - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday, Wall Street Zen reports.

BETA has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $31.00 target price on shares of BETA Technologies in a research note on Monday, October 5th. Needham & Company LLC restated a "buy" rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, October 21st. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Barclays initiated coverage on BETA Technologies in a report on Friday, October 9th. They issued an "overweight" rating and a $35.00 price target for the company. Finally, BTIG Research reaffirmed a "buy" rating and set a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BETA Technologies has an average rating of "Moderate Buy" and an average target price of $31.50.

BETA Technologies Stock Down 2.6%

Shares of NYSE:BETA opened at $20.04 on Friday. BETA Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The firm's 50 day moving average price is $20.85 and its 200 day moving average price is $19.13. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.52 billion and a price-to-earnings ratio of -1.54.

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

Insiders Place Their Bets

In other BETA Technologies news, insider Kyle Clark sold 30,000 shares of the business's stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00. Following the sale, the insider directly owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. The trade was a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Stone purchased 13,125 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was 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 approximately $34,407,554.86. This represents a 0.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 353,901 shares of company stock worth $8,097,418 in the last ninety days. 24.47% of the stock is currently owned by corporate insiders.

Institutional Trading of BETA Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of BETA. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the fourth quarter valued at $35,000. Allworth Financial LP boosted its stake in BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company's stock worth $30,000 after buying an additional 1,286 shares during the last quarter. IFP Advisors Inc boosted its stake in BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company's stock worth $30,000 after buying an additional 1,528 shares during the last quarter. California State Teachers Retirement System purchased a new stake in BETA Technologies in the 1st quarter valued at about $27,000. Finally, Sterling Capital Management LLC grew its holdings in BETA Technologies by 433.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,761 shares of the company's stock valued at $61,000 after buying an additional 2,243 shares during the period.

About BETA Technologies

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.

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