BETA Technologies (NYSE:BETA) Releases Quarterly Earnings Results, Misses Estimates By $1.55 EPS

BETA Technologies (NYSE:BETA) issued its quarterly earnings results on Monday. The company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55), Briefing.com reports. The company’s revenue for the quarter was up 152.3% on a year-over-year basis.

BETA Technologies Stock Performance

Shares of NYSE BETA opened at $19.41 on Monday. BETA Technologies has a 12 month low of $15.61 and a 12 month high of $39.50. The stock has a market capitalization of $4.28 billion and a P/E ratio of -1.97. The company’s fifty day moving average is $22.65.

Wall Street Analyst Weigh In

BETA has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research note on Thursday, January 15th. Jefferies Financial Group raised BETA Technologies from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, February 11th. BTIG Research began coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $40.00 price objective for the company. UBS Group set a $24.00 price objective on shares of BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, The Goldman Sachs Group began coverage on shares of BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $47.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.56.

Institutional Trading of BETA Technologies

A number of hedge funds have recently modified their holdings of the business. T. Rowe Price Investment Management Inc. purchased a new position in BETA Technologies in the fourth quarter valued at about $35,347,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of BETA Technologies during the 4th quarter worth about $31,511,000. Federated Hermes Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $30,337,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $21,741,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $13,550,000.

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.