BETA Technologies Inc (NYSE:BETA) Receives Consensus Rating of “Moderate Buy” from Brokerages

BETA Technologies Inc (NYSE:BETA) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.1111.

BETA has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Cantor Fitzgerald dropped their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group cut their price objective on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. BTIG Research reduced their target price on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Finally, Citigroup decreased their target price on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th.

Insider Buying and Selling at BETA Technologies

In other news, CFO Herman Cueto sold 18,586 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the sale, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at approximately $1,639,225.80. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sean Donovan sold 19,008 shares of BETA Technologies stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $344,424.96. Following the sale, the chief operating officer directly owned 176,195 shares in the company, valued at $3,192,653.40. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 243,928 shares of company stock worth $4,220,475. 24.47% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BETA Technologies

A number of institutional investors have recently bought and sold shares of BETA. Sandia Investment Management LP purchased a new position in shares of BETA Technologies in the 4th quarter valued at approximately $26,000. California State Teachers Retirement System purchased a new stake in shares of BETA Technologies in the 1st quarter worth about $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies in the 4th quarter worth about $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the 4th quarter worth about $38,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies in the 4th quarter worth about $42,000.

BETA Technologies Trading Up 0.7%

NYSE:BETA opened at $17.77 on Tuesday. The company has a fifty day moving average of $16.97 and a 200 day moving average of $18.78. 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 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $3.95 billion and a P/E ratio of -1.44.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. BETA Technologies’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that BETA Technologies will post -2.17 earnings per share for the current 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.