BETA Technologies (NYSE:BETA) Research Coverage Started at Barclays

Barclays assumed coverage on shares of BETA Technologies (NYSE:BETA) in a research note published on Friday morning, MarketBeat.com reports. The brokerage issued an overweight rating and a $35.00 price target on the stock.

Several other research analysts have also commented on BETA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 price target on shares of BETA Technologies in a research report on Monday, October 5th. 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. BTIG Research restated a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.50.

BETA Technologies Stock Down 0.1%

BETA opened at $20.96 on Friday. The business’s 50-day simple moving average is $22.30 and its 200-day simple moving average is $18.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. BETA Technologies has a one year low of $13.43 and a one year high of $39.50. The stock has a market capitalization of $4.73 billion and a P/E ratio of -1.61.

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

Insider Transactions at BETA Technologies

In other BETA Technologies news, insider Kyle Clark sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $25.42, for a total transaction 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 $137,190,240.22. This represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Stone acquired 13,125 shares of BETA Technologies stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $19.19 per share, with a total value of $251,868.75. Following the completion of the purchase, the director owned 1,792,994 shares in the company, valued at $34,407,554.86. The trade was a 0.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 263,901 shares of company stock worth $6,374,618. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new position in shares of BETA Technologies in the first quarter valued at approximately $1,162,000. Masters Capital Management LLC purchased a new stake in shares of BETA Technologies during the first quarter worth approximately $10,290,000. Quantinno Capital Management LP purchased a new stake in shares of BETA Technologies during the first quarter worth approximately $1,115,000. Granahan Investment Management LLC purchased a new stake in shares of BETA Technologies during the fourth quarter worth approximately $12,366,000. Finally, Corient Private Wealth LP lifted its holdings in shares of BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after purchasing an additional 81,150 shares during the period.

BETA Technologies Company Profile

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.