BETA Technologies (NYSE:BETA) Price Target Cut to $33.00 by Analysts at Citigroup

Key Points

• Citigroup cut its price target on BETA from $41 to $33 while maintaining a "buy" rating, implying a potential upside of 112.37% from the current share price; analysts' consensus is a "Moderate Buy" with an average target of $34 (9 Buys, 1 Hold, 1 Sell).
• BETA shares trade around $15.54, well below their 52-week high of $39.50 and with a market cap of about $3.44 billion; the company missed Q4 EPS estimates (reported -$2.02 vs. est. -$0.47) but beat revenue expectations with $11.13M, up 152% YoY.

BETA Technologies (NYSE:BETA - Get Free Report) had its price target lowered by stock analysts at Citigroup from $41.00 to $33.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price indicates a potential upside of 112.37% from the company's current price.

Several other research firms have also recently weighed in on BETA. Morgan Stanley decreased their price objective on shares of BETA Technologies from $34.00 to $33.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 10th. Bank of America upped their price objective on BETA Technologies from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, December 17th. Needham & Company LLC reissued a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a report on Monday, March 9th. Wall Street Zen upgraded BETA Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Finally, The Goldman Sachs Group cut their target price on BETA Technologies from $43.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, BETA Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.00.

BETA Technologies Stock Performance

BETA Technologies stock traded up $0.45 during midday trading on Thursday, reaching $15.54. 551,242 shares of the stock were exchanged, compared to its average volume of 1,384,551. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a current ratio of 22.77, a quick ratio of 22.77 and a debt-to-equity ratio of 0.10. The stock has a market cap of $3.44 billion and a price-to-earnings ratio of -1.31. The firm has a fifty day simple moving average of $18.37.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The firm had revenue of $11.13 million for the quarter, compared to analysts' expectations of $6.69 million. The company's revenue was up 152.3% on a year-over-year basis.

Institutional Investors Weigh In On BETA Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Sandia Investment Management LP bought a new position in shares of BETA Technologies during the 4th quarter valued at approximately $26,000. Rockefeller Capital Management L.P. purchased a new position in BETA Technologies in the fourth quarter worth about $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies during the fourth quarter worth approximately $38,000. Wolff Wiese Magana LLC purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $70,000.

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.

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