Better Home & Finance (NASDAQ:BETR) Downgraded to Strong Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Better Home & Finance (NASDAQ:BETR) from a sell rating to a strong sell rating in a report issued on Saturday morning.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Better Home & Finance in a research report on Friday, July 17th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 price target on shares of Better Home & Finance in a research note on Friday. Canaccord Genuity Group initiated coverage on shares of Better Home & Finance in a research report on Thursday, June 18th. They set a “buy” rating and a $42.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $32.00 price objective on shares of Better Home & Finance in a research note on Monday, July 20th. Finally, Zacks Research raised Better Home & Finance to a “hold” rating in a report on Wednesday. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.33.

Better Home & Finance Stock Up 10.4%

NASDAQ BETR opened at $23.50 on Friday. The company has a 50-day moving average price of $25.73 and a 200-day moving average price of $30.60. Better Home & Finance has a 52 week low of $12.57 and a 52 week high of $94.06. The firm has a market capitalization of $443.44 million, a P/E ratio of -2.00 and a beta of 1.71.

Insider Activity

In other Better Home & Finance news, COO Chad M. Smith sold 2,455 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $30.16, for a total value of $74,042.80. Following the completion of the transaction, the chief operating officer directly owned 21,061 shares in the company, valued at $635,199.76. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vishal Garg acquired 15,600 shares of Better Home & Finance stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $25.00 per share, with a total value of $390,000.00. Following the completion of the purchase, the chief executive officer owned 118,260 shares of the company’s stock, valued at approximately $2,956,500. This represents a 15.20% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders purchased 51,433 shares of company stock valued at $1,334,148. 27.72% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stoic Point Capital Management LLC purchased a new stake in Better Home & Finance in the 1st quarter worth $467,000. Royal Bank of Canada lifted its position in shares of Better Home & Finance by 1,264.0% in the first quarter. Royal Bank of Canada now owns 2,728 shares of the company’s stock valued at $97,000 after acquiring an additional 2,528 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Better Home & Finance in the first quarter valued at about $505,000. Walleye Capital LLC bought a new position in shares of Better Home & Finance in the first quarter worth about $262,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Better Home & Finance by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 13,890 shares of the company’s stock worth $495,000 after acquiring an additional 548 shares during the period. Institutional investors own 20.94% of the company’s stock.

Better Home & Finance Company Profile

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner’s insurance services. The company was founded in 2014 and is headquartered in New York, NY.