BETA Technologies Inc (NYSE:BETA) Stock Has Average Target Price of $31.11 According to Brokerages

Key Points

• Analysts maintain a moderately bullish outlook: Eleven brokerages rate BETA Technologies “Moderate Buy,” with nine buys, one hold, and one sell. Their average 12-month price target is $31.11, compared with the stock’s recent price of $23.88.
• Institutional interest is growing, with TPG GP A, Amazon, Norges Bank, Masters Capital Management, and ClearBridge Investments among investors that recently established positions.
• The company remains unprofitable: BETA missed quarterly EPS expectations, reporting a loss of $0.64 per share versus the anticipated $0.56 loss, and analysts expect a full-year loss of $2.25 per share. Insider activity was mixed, with a director buying shares while insiders collectively sold $5.35 million worth over the past 90 days.

BETA Technologies Inc (NYSE:BETA - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $31.11.

Several analysts recently weighed in on BETA shares. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reaffirmed a "buy" rating and issued a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, August 12th.

Insider Activity at BETA Technologies

In other news, Director Michael Stone bought 13,125 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the purchase, the director directly owned 1,792,994 shares in the company, valued at $34,407,554.86. This trade represents a 0.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kyle Clark sold 23,205 shares of BETA Technologies stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $25.22, for a total value of $585,230.10. Following the sale, the insider owned 5,235,936 shares in the company, valued at $132,050,305.92. This represents a 0.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 223,901 shares of company stock worth $5,350,168. Insiders own 24.47% of the company's stock.

Institutional Trading of BETA Technologies

A number of hedge funds have recently modified their holdings of BETA. TPG GP A LLC bought a new position in shares of BETA Technologies in the 4th quarter worth about $462,515,000. Amazon Com Inc. bought a new stake in BETA Technologies during the fourth quarter worth about $331,577,000. Norges Bank bought a new stake in BETA Technologies during the fourth quarter worth about $41,485,000. Masters Capital Management LLC purchased a new stake in BETA Technologies in the first quarter worth about $10,290,000. Finally, Clearbridge Investments LLC purchased a new stake in BETA Technologies in the fourth quarter worth about $18,402,000.

BETA Technologies Stock Up 3.2%

Shares of NYSE BETA opened at $23.88 on Friday. The company has a market cap of $5.38 billion and a price-to-earnings ratio of -1.83. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. 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 firm's fifty day moving average is $21.69 and its 200 day moving average is $18.45.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. The firm had revenue of $14.66 million during the quarter. On average, equities research analysts expect that BETA Technologies will post -2.25 earnings per share for the current year.

About BETA Technologies

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA's aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.

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