Better Home & Finance (NASDAQ:BETR) Stock Gets Price Target Trim from B. Riley Financial

Better Home & Finance (NASDAQ:BETR) had its price objective dropped by B. Riley Financial from $26.00 to $23.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s target price would indicate a potential upside of 30.83% from the stock’s current price.

A number of other research analysts also recently issued reports on BETR. Wall Street Zen downgraded shares of Better Home & Finance from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 12th. Northland Securities set a $18.00 target price on Better Home & Finance in a research report on Wednesday, October 7th. CLSA raised shares of Better Home & Finance to a “buy” rating in a research note on Wednesday, September 9th. Roth Capital set a $25.00 target price on shares of Better Home & Finance in a report on Thursday, August 13th. Finally, BTIG Research reduced their price target on shares of Better Home & Finance from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $23.71.

Better Home & Finance Trading Down 12.8%

Better Home & Finance stock traded down $2.57 during mid-day trading on Tuesday, hitting $17.58. The stock had a trading volume of 328,871 shares, compared to its average volume of 579,311. Better Home & Finance has a 12 month low of $7.51 and a 12 month high of $65.32. The stock has a market capitalization of $334.02 million, a PE ratio of -1.58 and a beta of 1.66. The stock has a 50-day simple moving average of $13.76 and a two-hundred day simple moving average of $24.65.

Better Home & Finance (NASDAQ:BETR) last posted its quarterly earnings data on Monday, November 9th. The company reported ($1.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.44) by ($0.49). Better Home & Finance had a negative return on equity of 409.62% and a negative net margin of 94.52%. The firm had revenue of $45.12 million for the quarter. Sell-side analysts expect that Better Home & Finance will post -7.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Better Home & Finance

In related news, General Counsel Paula Tuffin sold 3,108 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $12.36, for a total transaction of $38,414.88. Following the sale, the general counsel owned 40,931 shares of the company’s stock, valued at approximately $505,907.16. The trade was a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Chad M. Smith sold 3,307 shares of Better Home & Finance stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $12.85, for a total value of $42,494.95. Following the sale, the insider owned 1,693 shares of the company’s stock, valued at approximately $21,755.05. This represents a 66.14% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 11,170 shares of company stock valued at $149,505 in the last ninety days. Insiders own 27.72% of the company’s stock.

Institutional Investors Weigh In On Better Home & Finance

A number of institutional investors have recently made changes to their positions in BETR. Whetstone Capital Advisors LLC bought a new stake in shares of Better Home & Finance during the 2nd quarter worth about $6,985,000. Fifth Third Bancorp bought a new stake in shares of Better Home & Finance in the 1st quarter worth approximately $1,460,000. Jefferies Financial Group Inc. acquired a new stake in shares of Better Home & Finance during the third quarter worth approximately $306,000. Bank of New York Mellon Corp acquired a new stake in shares of Better Home & Finance during the 2nd quarter worth approximately $518,000. Finally, Quantinno Capital Management LP acquired a new stake in Better Home & Finance during the 1st quarter worth $505,000. 20.94% of the stock is currently owned by institutional investors.

Key Stories Impacting Better Home & Finance

Here are the key news stories impacting Better Home & Finance this week:

• Negative Sentiment: Q3 loss missed expectations: Better reported a loss of about $1.9 per share, compared with analysts’ expected loss of $1.44. Revenue was $45.12 million, which Zacks said also fell short of estimates. The earnings shortfall reinforces concerns about the company’s profitability. Zacks Q3 results report
• Negative Sentiment: Securities class action adds legal uncertainty: Law firms are publicizing a pending lawsuit and a November 20 lead-plaintiff deadline. The suit alleges Better reaffirmed a $1 billion monthly funded-volume target despite a slowing loan-conversion funnel, and that investors were not adequately informed. Continued attention to the allegations may weigh on sentiment, though the claims have not been proven. Class action deadline notice

About Better Home & Finance

Better Home & Finance Holding Company is a financial technology company that provides digital services for homeownership. Through its Better brand, the company offers an online platform designed to simplify the process of buying, financing and protecting a home. Its principal businesses include Better Mortgage, a digital mortgage lender and broker; Better Real Estate, which provides residential real estate brokerage services; Better Cover, an insurance platform; and Better Settlement Services, which supports title and closing activities.