BETA Technologies (NYSE:BETA) Stock Keeps Buy Rating at Needham & Company LLC

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports. They presently have a $34.00 price objective on the stock. Needham & Company LLC‘s target price indicates a potential upside of 87.27% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Barclays assumed coverage on BETA Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, BTIG Research restated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.50.

BETA Technologies Stock Performance

NYSE:BETA opened at $18.16 on Wednesday. The firm has a 50-day moving average of $21.71 and a two-hundred day moving average of $18.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The stock has a market cap of $4.09 billion and a P/E ratio of -1.39. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50.

BETA Technologies (NYSE:BETA) last announced its earnings results 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 return on equity of 96.24% and a negative net margin of 1,913.91%. The business had revenue of $14.66 million for the quarter. On average, research analysts expect that BETA Technologies will post -2.25 earnings per share for the current fiscal year.

Insider Transactions at BETA Technologies

In other news, Director Michael Stone acquired 13,125 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was purchased at an average cost of $19.19 per share, with a total value of $251,868.75. Following the completion of the acquisition, the director directly owned 1,792,994 shares in the company, valued at $34,407,554.86. This represents a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kyle Clark sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total value of $762,600.00. Following the sale, the insider owned 5,396,941 shares in the company, valued at $137,190,240.22. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 303,901 shares of company stock valued at $7,115,718 over the last quarter. Insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Masters Capital Management LLC acquired a new stake in shares of BETA Technologies during the 1st quarter valued at approximately $10,290,000. Bank of America Corp DE boosted its holdings in BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after purchasing an additional 187,807 shares during the period. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in BETA Technologies during the third quarter valued at $2,905,000. Bank of New York Mellon Corp bought a new stake in BETA Technologies during the second quarter valued at $2,877,000. Finally, Corient Private Wealth LP raised its holdings in shares of BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after purchasing an additional 81,150 shares during the period.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.