BETA Technologies’ (BETA) “Buy” Rating Reaffirmed at BTIG Research

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reaffirmed by analysts at BTIG Research in a research note issued on Friday, Benzinga reports. They presently have a $33.00 target price on the stock. BTIG Research‘s price objective points to a potential upside of 37.80% from the stock’s previous close.

A number of other equities research analysts have also issued reports on BETA. Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a research note on Wednesday. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Finally, Barclays started coverage on BETA Technologies in a report on Friday, October 9th. They set an “overweight” rating and a $35.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.90.

BETA Technologies Stock Performance

Shares of BETA opened at $23.95 on Friday. The firm has a 50-day moving average price of $20.86 and a 200 day moving average price of $19.05. The company has a current ratio of 11.51, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.03. The company had revenue of $17.67 million for the quarter. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The firm’s revenue for the quarter was up 98.6% compared to the same quarter last year. During the same quarter last year, the business posted ($9.83) earnings per share. On average, sell-side analysts predict that BETA Technologies will post -2.25 earnings per share for the current fiscal year.

Insider Activity at BETA Technologies

In other BETA Technologies news, Director Michael Stone bought 13,125 shares of BETA Technologies stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the acquisition, the director directly owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. This trade represents a 0.74% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kyle Clark sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider directly owned 5,396,941 shares of the company’s stock, valued at approximately $137,190,240.22. This trade represents a 0.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 358,901 shares of company stock worth $8,204,568. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Fifth Third Bancorp lifted its stake in BETA Technologies by 390.8% in the 3rd quarter. Fifth Third Bancorp now owns 4,196 shares of the company’s stock worth $93,000 after acquiring an additional 3,341 shares in the last quarter. Fulcrum Asset Management LLP acquired a new stake in BETA Technologies during the 3rd quarter worth about $149,000. J. Derek Lewis & Associates Inc. boosted its position in BETA Technologies by 27.4% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 18,600 shares of the company’s stock worth $411,000 after acquiring an additional 4,000 shares during the period. ProShare Advisors LLC purchased a new position in BETA Technologies during the 3rd quarter valued at about $328,000. Finally, State of Wyoming grew its stake in BETA Technologies by 33.5% during the 3rd quarter. State of Wyoming now owns 21,944 shares of the company’s stock valued at $485,000 after acquiring an additional 5,507 shares in the last quarter.

About BETA Technologies

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.