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

Cantor Fitzgerald reissued their overweight rating on shares of BETA Technologies (NYSE:BETA) in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a $31.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Barclays started coverage on BETA Technologies in a report on Friday, October 9th. They set an “overweight” rating and a $35.00 price target for the company. Needham & Company LLC lowered their price target on BETA Technologies from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.90.

BETA Technologies Price Performance

Shares of BETA Technologies stock traded up $3.04 on Wednesday, reaching $27.09. 3,235,677 shares of the stock were exchanged, compared to its average volume of 1,602,466. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The firm has a market cap of $6.13 billion and a PE ratio of -7.32. The firm’s 50 day moving average is $20.96 and its 200-day moving average is $19.04. BETA Technologies has a one year low of $13.43 and a one year high of $36.43.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. 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 $17.67 million for the quarter. During the same period last year, the business earned ($9.83) earnings per share. The business’s revenue was up 98.6% compared to the same quarter last year. As a group, analysts anticipate that BETA Technologies will post -2.25 EPS for the current fiscal year.

Insider Activity

In related news, insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $24.90, for a total transaction of $249,000.00. Following the completion of the transaction, the insider directly owned 4,935,936 shares in the company, valued at $122,904,806.40. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 358,901 shares of company stock worth $8,204,568. Insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

A number of hedge funds have recently added to or reduced their stakes in BETA. Rockefeller Capital Management L.P. acquired a new position in shares of BETA Technologies during the fourth quarter worth $35,000. Allworth Financial LP lifted its stake in shares of BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after acquiring an additional 1,286 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after acquiring an additional 1,528 shares in the last quarter. California State Teachers Retirement System acquired a new stake in shares of BETA Technologies during the 1st quarter valued at $27,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of BETA Technologies by 433.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,761 shares of the company’s stock valued at $61,000 after acquiring an additional 2,243 shares in the last quarter.

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 South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.