BETA Technologies’ (BETA) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of BETA Technologies (NYSE:BETA) in a report released on Monday morning,Benzinga reports. They currently have a $31.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, August 12th. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Nine 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. Based on data from MarketBeat, BETA Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Down 3.0%

NYSE:BETA opened at $20.27 on Monday. The firm has a market capitalization of $4.57 billion and a P/E ratio of -1.56. BETA Technologies has a 1-year low of $13.43 and a 1-year high of $39.50. The company’s fifty day moving average price is $22.20 and its 200-day moving average price is $18.68. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

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

Insider Activity

In other news, Director Michael Stone bought 13,125 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average cost of $19.19 per share, with a total value of $251,868.75. Following the purchase, the director directly owned 1,792,994 shares in the company, valued at $34,407,554.86. The trade was a 0.74% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kyle Clark sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $21.30, for a total value of $213,000.00. Following the sale, the insider owned 5,155,936 shares in the company, valued at $109,821,436.80. This trade represents a 0.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 243,901 shares of company stock worth $5,966,118. Corporate insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Several institutional investors have recently bought and sold shares of the business. TPG GP A LLC purchased a new stake in shares of BETA Technologies during the fourth quarter worth about $462,515,000. Norges Bank acquired a new stake in BETA Technologies in the 4th quarter worth about $41,485,000. Masters Capital Management LLC purchased a new stake in BETA Technologies during the 1st quarter worth approximately $10,290,000. Clearbridge Investments LLC purchased a new stake in BETA Technologies during the 4th quarter worth approximately $18,402,000. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of BETA Technologies during the fourth quarter valued at approximately $17,289,000.

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 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.