Better Home & Finance (NASDAQ:BETR) Stock Price Up 12.6% – Here’s Why

Better Home & Finance Holding Company (NASDAQ:BETR) shares were up 12.6% during trading on Monday . The company traded as high as $26.54 and last traded at $26.47. Approximately 128,472 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 439,474 shares. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $32.00 price objective on shares of Better Home & Finance in a research report on Monday, July 20th. Roth Capital began coverage on Better Home & Finance in a research note on Monday, June 15th. They set a “buy” rating and a $35.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of Better Home & Finance in a research note on Friday. Wall Street Zen cut Better Home & Finance from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Better Home & Finance in a research note on Friday, July 17th. Six 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 company’s stock. Based on data from MarketBeat.com, Better Home & Finance currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Better Home & Finance Stock Performance

The stock’s fifty day simple moving average is $25.58 and its 200-day simple moving average is $30.32. The stock has a market cap of $325.88 million, a P/E ratio of -1.47 and a beta of 1.73.

Insider Activity

In other news, Director Hugh R. Frater purchased 5,150 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $24.34 per share, with a total value of $125,351.00. Following the acquisition, the director owned 6,326 shares in the company, valued at approximately $153,974.84. The trade was a 437.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Vishal Garg purchased 15,600 shares of Better Home & Finance stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $25.00 per share, for a total transaction of $390,000.00. Following the transaction, the chief executive officer directly owned 118,260 shares in the company, valued at $2,956,500. This represents a 15.20% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 51,433 shares of company stock valued at $1,334,148 in the last 90 days. 27.72% of the stock is owned by corporate insiders.

Institutional Trading of Better Home & Finance

Several institutional investors and hedge funds have recently modified their holdings of BETR. Goldman Sachs Group Inc. raised its stake in Better Home & Finance by 3.1% during the first quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock worth $3,207,000 after acquiring an additional 8,924 shares in the last quarter. Geode Capital Management LLC boosted its position in Better Home & Finance by 90.6% in the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock valued at $1,609,000 after buying an additional 61,740 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Better Home & Finance during the second quarter worth $29,000. XTX Topco Ltd acquired a new stake in shares of Better Home & Finance during the 2nd quarter valued at $197,000. Finally, New York State Common Retirement Fund acquired a new position in Better Home & Finance in the 2nd quarter worth about $100,000. 20.94% of the stock is currently owned by institutional investors.

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.