BETA Technologies Inc (NYSE:BETA) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on BETA Technologies, with nine buys, one hold and one sell among 11 analysts. The average 12-month price target is $31.11, although several firms recently lowered their targets.
• BETA shares opened at $23.53, up 3.6%, with a $5.23 billion market capitalization. The stock remains well below its 52-week high of $39.50 but above its $13.43 low.
• The company reported a quarterly loss of $0.53 per share, beating estimates for a $0.74 loss, while revenue rose 5.2% year over year to $10.13 million. Insider ownership stands at 24.47%, with recent purchases by a director offset by broader insider selling.

BETA Technologies Inc (NYSE:BETA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $31.1111.

Several equities analysts have commented on BETA shares. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, May 13th. Weiss Ratings upgraded BETA Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday. Cantor Fitzgerald lowered their price objective on BETA Technologies from $38.00 to $31.00 and set an "overweight" rating for the company in a research note on Wednesday, May 13th. BTIG Research dropped their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Finally, Citigroup cut their target price on shares of BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, May 18th.

BETA Technologies Stock Up 3.6%

Shares of NYSE:BETA opened at $23.53 on Friday. The company has a fifty day moving average of $17.82 and a 200-day moving average of $17.89. The company has a market capitalization of $5.23 billion and a PE ratio of -1.90. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business's quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that BETA Technologies will post -2.17 EPS for the current fiscal year.

Insider Activity at BETA Technologies

In other news, insider Kyle Clark sold 15,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $17.41, for a total transaction of $261,150.00. Following the completion of the transaction, the insider owned 5,554,837 shares of the company's stock, valued at approximately $96,709,712.17. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Robert Stone acquired 17,135 shares of BETA Technologies stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the purchase, the director owned 1,767,049 shares of the company's stock, valued at $25,781,244.91. The trade was a 0.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 105,000 shares of company stock valued at $1,703,100. Corporate insiders own 24.47% of the company's stock.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies in the second quarter valued at about $2,877,000. Parallel Advisors LLC lifted 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 acquiring an additional 685 shares during the period. Bank of America Corp DE lifted its stake in shares of BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after acquiring an additional 187,807 shares during the period. California State Teachers Retirement System bought a new stake in BETA Technologies in the first quarter valued at approximately $27,000. Finally, Readystate Asset Management LP boosted its holdings in BETA Technologies by 19.0% in the first quarter. Readystate Asset Management LP now owns 25,000 shares of the company's stock valued at $368,000 after acquiring an additional 4,000 shares during the last quarter.

About BETA Technologies

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source