BETA Technologies (NYSE:BETA) Trading 8.8% Higher – Here’s What Happened

BETA Technologies Inc (NYSE:BETA) shares shot up 8.8% on Monday . The stock traded as high as $30.94 and last traded at $30.90. 651,881 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 1,355,823 shares. The stock had previously closed at $28.39.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BETA shares. BTIG Research initiated coverage on shares of BETA Technologies in a report on Monday, December 1st. They set a “buy” rating and a $40.00 price objective on the stock. Needham & Company LLC initiated coverage on BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $34.00 target price on the stock. Morgan Stanley started coverage on BETA Technologies in a research report on Monday, December 1st. They issued an “overweight” rating and a $34.00 price target for the company. The Goldman Sachs Group started coverage on BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $47.00 price objective for the company. Finally, Citigroup assumed coverage on BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $41.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.88.

BETA Technologies Stock Performance

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Thursday, December 4th. The company reported ($9.83) earnings per share for the quarter. The firm had revenue of $8.92 million during the quarter, compared to analysts’ expectations of $7.50 million.

About BETA Technologies

BETA Technologies Inc is an electric aerospace company. It involved in designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems. BETA Technologies Inc is based in SOUTH BURLINGTON.