Better Home & Finance (NASDAQ:BETR) Trading Up 8.4% - What's Next?

Key Points

• Better Home & Finance's stock surged 8.4% in mid-day trading, reaching a high of $36.95, despite a significantly decreased trading volume.
• Analysts at Wall Street Zen upgraded the stock from a "sell" rating to a "hold" rating, indicating a more positive outlook.
• Despite a reported loss of ($1.99) EPS, the company outperformed analysts' expectations, surpassing the consensus estimate of ($2.27) by $0.28.

Better Home & Finance Holding Company (NASDAQ:BETR - Get Free Report)'s stock price shot up 8.4% during trading on Monday . The stock traded as high as $36.95 and last traded at $36.95. 27,023 shares were traded during trading, a decline of 57% from the average session volume of 62,707 shares. The stock had previously closed at $34.09.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Better Home & Finance from a "sell" rating to a "hold" rating in a report on Saturday, September 13th.

Better Home & Finance Stock Performance

The firm has a market capitalization of $978.71 million, a P/E ratio of -4.85 and a beta of 1.57. The stock has a fifty day moving average price of $19.30 and a two-hundred day moving average price of $15.05.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($1.99) earnings per share for the quarter, beating analysts' consensus estimates of ($2.27) by $0.28. Better Home & Finance had a negative return on equity of 1,105.80% and a negative net margin of 153.25%.The business had revenue of $44.14 million during the quarter, compared to the consensus estimate of $44.14 million.

Insider Buying and Selling

In other Better Home & Finance news, CAO J. Calamari Nicholas sold 12,527 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $21.86, for a total value of $273,840.22. Following the sale, the chief accounting officer directly owned 9,451 shares of the company's stock, valued at $206,598.86. This trade represents a 57.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.59% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Better Home & Finance

Several hedge funds and other institutional investors have recently modified their holdings of BETR. JPMorgan Chase & Co. acquired a new position in shares of Better Home & Finance during the second quarter valued at $29,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Better Home & Finance during the second quarter valued at $33,000. BNP Paribas Financial Markets acquired a new position in shares of Better Home & Finance during the second quarter valued at $72,000. New York State Common Retirement Fund acquired a new position in shares of Better Home & Finance during the second quarter valued at $100,000. Finally, Bank of America Corp DE boosted its holdings in shares of Better Home & Finance by 87.6% during the second quarter. Bank of America Corp DE now owns 13,871 shares of the company's stock valued at $172,000 after acquiring an additional 6,479 shares during the period. Institutional investors and hedge funds own 20.94% of the company's stock.

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.