Analysts Set BETA Technologies Inc (NYSE:BETA) Price Target at $31.11

BETA Technologies Inc (NYSE:BETA) has been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $31.1111.

A number of research analysts have recently weighed in on the company. Weiss Ratings downgraded BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. Citigroup restated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reiterated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, August 12th.

Insiders Place Their Bets

In other news, insider Kyle Clark sold 23,205 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10. Following the transaction, the insider owned 5,235,936 shares in the company, valued at approximately $132,050,305.92. The trade was a 0.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Stone purchased 13,125 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the purchase, 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 disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 298,901 shares of company stock valued at $6,546,418. Insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $26,000. California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter worth about $27,000. Allworth Financial LP raised its position in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,286 shares in the last quarter. IFP Advisors Inc lifted its stake in BETA Technologies by 555.6% during the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after purchasing an additional 1,528 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in BETA Technologies during the fourth quarter worth about $35,000.

BETA Technologies Trading Down 5.1%

Shares of NYSE BETA opened at $21.07 on Wednesday. BETA Technologies has a 12 month low of $13.43 and a 12 month high of $39.50. The company has a market cap of $4.75 billion and a price-to-earnings ratio of -1.62. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $20.67 and a 200-day simple moving average of $18.21.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The company had revenue of $14.66 million during the quarter. Sell-side analysts predict that BETA Technologies will post -2.25 EPS for the current year.

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.