BETA Technologies (NYSE:BETA) Trading Down 6.4% – Here’s Why

Shares of BETA Technologies Inc (NYSE:BETA) fell 6.4% on Tuesday . The stock traded as low as $27.80 and last traded at $27.80. 293,229 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,214,870 shares. The stock had previously closed at $29.69.

Analyst Ratings Changes

BETA has been the subject of several recent analyst reports. Needham & Company LLC assumed coverage on BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $34.00 price objective for the company. Zacks Research upgraded shares of BETA Technologies to a “hold” rating in a research report on Tuesday, December 2nd. Jefferies Financial Group initiated coverage on BETA Technologies in a research note on Sunday, November 30th. They set a “hold” rating and a $30.00 price target on the stock. Wall Street Zen lowered BETA Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Citigroup initiated coverage on BETA Technologies in a research note on Monday, December 1st. They issued a “buy” rating and a $41.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, BETA Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $37.88.

BETA Technologies Price Performance

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Thursday, December 4th. The company reported ($9.83) EPS for the quarter. The company had revenue of $8.92 million for the quarter, compared to analyst estimates of $7.50 million.

BETA Technologies Company Profile

BETA Technologies Inc is an electric aerospace company. It involved in designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems. BETA Technologies Inc is based in SOUTH BURLINGTON.