BETA Technologies Inc (NYSE:BETA) Stock Has Average Price Target of $31.11

Shares of BETA Technologies Inc (NYSE:BETA) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $31.11.

Several research firms have recently weighed in on BETA. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Finally, Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th.

BETA Technologies Stock Performance

Shares of BETA opened at $22.06 on Friday. 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 firm’s 50 day moving average is $22.03 and its 200-day moving average is $18.56. BETA Technologies has a 12-month low of $13.43 and a 12-month high of $39.50. The stock has a market capitalization of $4.97 billion and a P/E ratio of -1.69.

BETA Technologies (NYSE:BETA) last released its earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The business had revenue of $14.66 million for the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. Equities research analysts anticipate that BETA Technologies will post -2.25 EPS for the current fiscal year.

Insider Activity at BETA Technologies

In other BETA Technologies news, Director Michael Stone bought 13,125 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average price of $19.19 per share, with a total value of $251,868.75. Following the completion of the transaction, the director directly owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. This represents a 0.74% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kyle Clark sold 30,000 shares of BETA Technologies stock in a transaction 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 transaction, the insider owned 5,396,941 shares in the company, valued at $137,190,240.22. This represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 233,901 shares of company stock worth $5,753,118. Corporate insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

Hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in BETA Technologies in the 2nd quarter worth approximately $235,000. IFP Advisors Inc boosted its position in BETA Technologies by 555.6% during the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares during the last quarter. Squarepoint Ops LLC purchased a new position in BETA Technologies in the second quarter valued at about $2,045,000. Allworth Financial LP grew its stake in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after purchasing an additional 1,286 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in BETA Technologies in the 2nd quarter worth about $251,000.

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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.