BETA Technologies (NYSE:BETA) Shares Down 5.8% Following Analyst Downgrade

Key Points

• BETA shares fell 5.8% intraday to about $15.88 after Goldman Sachs cut its price target from $43 to $38 while maintaining a buy rating; trading volume was ~462,173 shares, down roughly 60% from the average.
• Earnings missed but revenue surged: BETA reported EPS of ($2.02) versus estimates of ($0.47), while revenue rose 152% year-over-year to $11.13 million.
• Major institutional interest and analyst consensus: GE, TPG, Amazon, Vanguard and Norges Bank established sizable Q4 stakes, and the consensus from 11 analysts is a "Moderate Buy" with an average target of $34.89.

BETA Technologies Inc (NYSE:BETA - Get Free Report) was down 5.8% during mid-day trading on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. BETA Technologies traded as low as $16.14 and last traded at $15.88. Approximately 462,173 shares were traded during trading, a decline of 60% from the average daily volume of 1,161,622 shares. The stock had previously closed at $16.85.

A number of other research analysts have also issued reports on BETA. Zacks Research upgraded BETA Technologies to a "hold" rating in a research report on Tuesday, December 2nd. Needham & Company LLC reissued a "buy" rating and issued a $34.00 price target on shares of BETA Technologies in a report on Monday, March 9th. BTIG Research restated a "buy" rating and set a $40.00 price objective on shares of BETA Technologies in a research report on Tuesday, March 10th. Citigroup started coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued a "buy" rating and a $41.00 price objective on the stock. Finally, Weiss Ratings began coverage on shares of BETA Technologies in a report on Friday, January 30th. They issued a "sell (d-)" rating on the stock. Nine investment 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $34.89.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BETA. General Electric Co bought a new position in BETA Technologies in the fourth quarter worth $644,962,000. TPG GP A LLC acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $462,515,000. Amazon Com Inc. bought a new stake in BETA Technologies in the fourth quarter valued at about $331,577,000. Vanguard Group Inc. bought a new stake in BETA Technologies in the fourth quarter valued at about $77,089,000. Finally, Norges Bank acquired a new position in BETA Technologies in the fourth quarter worth about $41,485,000.

BETA Technologies Price Performance

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 business has a 50 day moving average price of $21.48. The firm has a market cap of $3.49 billion and a PE ratio of -1.60.

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

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.