BETA Technologies (NYSE:BETA) Stock Price Down 4.9% – What’s Next?

BETA Technologies Inc (NYSE:BETA)’s stock price traded down 4.9% during trading on Thursday . The stock traded as low as $17.40 and last traded at $17.3690. 180,679 shares traded hands during trading, a decline of 87% from the average session volume of 1,365,017 shares. The stock had previously closed at $18.27.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Monday, March 9th. The Goldman Sachs Group reduced their target price on BETA Technologies from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, March 17th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 target price on shares of BETA Technologies in a research note on Tuesday, March 10th. UBS Group set a $24.00 price target on BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings started coverage on BETA Technologies in a research note on Friday, January 30th. They set a “sell (d-)” rating on the stock. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BETA Technologies has a consensus rating of “Moderate Buy” and an average price target of $34.00.

BETA Technologies Stock Performance

The stock has a market cap of $3.85 billion and a price-to-earnings ratio of -1.47. The company has a quick ratio of 22.77, a current ratio of 22.77 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $17.20.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The firm had revenue of $11.13 million during the quarter, compared to analyst estimates of $6.69 million. BETA Technologies’s quarterly revenue was up 152.3% compared to the same quarter last year.

Institutional Trading of BETA Technologies

Large investors have recently added to or reduced their stakes in the stock. Sandia Investment Management LP acquired a new stake in BETA Technologies in the 4th quarter valued at $26,000. Rockefeller Capital Management L.P. acquired a new stake in BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC acquired a new stake in BETA Technologies in the 4th quarter valued at $38,000. Wolff Wiese Magana LLC acquired a new stake in BETA Technologies in the 4th quarter valued at $42,000. Finally, Kestra Advisory Services LLC acquired a new stake in BETA Technologies in the 4th quarter valued at $70,000.

BETA Technologies Company Profile

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.