Massachusetts Financial Services Co. MA Makes New $6.35 Million Investment in BETA Technologies Inc $BETA

Massachusetts Financial Services Co. MA bought a new position in BETA Technologies Inc (NYSE:BETA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 225,060 shares of the company’s stock, valued at approximately $6,349,000. Massachusetts Financial Services Co. MA owned about 0.10% of BETA Technologies as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. SG Americas Securities LLC purchased a new position in BETA Technologies in the 4th quarter worth about $1,386,000. Stratos Wealth Partners LTD. purchased a new stake in shares of BETA Technologies during the 4th quarter valued at about $360,000. Capricorn Fund Managers Ltd purchased a new stake in shares of BETA Technologies during the 4th quarter valued at about $564,000. Wolff Wiese Magana LLC purchased a new stake in shares of BETA Technologies during the 4th quarter valued at about $42,000. Finally, Green Alpha Advisors LLC purchased a new stake in shares of BETA Technologies during the 4th quarter valued at about $603,000.

Analyst Ratings Changes

Several equities research analysts have recently commented on BETA shares. Jefferies Financial Group reduced their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 price target on shares of BETA Technologies in a research report on Tuesday, March 10th. UBS Group set a $24.00 price target on shares of BETA Technologies and gave the company a “buy” rating in a research report on Monday, February 9th. The Goldman Sachs Group reduced their price target on shares of BETA Technologies from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Finally, Weiss Ratings started coverage on shares of BETA Technologies in a research report on Friday, January 30th. They set a “sell (d-)” rating for the company. Nine research 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. According to MarketBeat, BETA Technologies currently has an average rating of “Moderate Buy” and an average price target of $34.00.

BETA Technologies Trading Down 5.4%

Shares of NYSE:BETA opened at $17.28 on Friday. The company’s 50 day moving average is $17.23. The company has a market cap of $3.82 billion and a P/E ratio of -1.46. The company has a current ratio of 22.77, a quick ratio of 22.77 and a debt-to-equity ratio of 0.10. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50.

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

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.