Needham & Company LLC Reiterates Buy Rating for BETA Technologies (NYSE:BETA)

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $34.00 target price on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 24.82% from the stock’s current price.

Several other equities analysts have also weighed in on BETA. Cantor Fitzgerald began coverage on shares of BETA Technologies in a report on Monday, December 1st. They set an “overweight” rating and a $42.00 target price for the company. Morgan Stanley initiated coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set an “overweight” rating and a $34.00 price target on the stock. Citigroup initiated coverage on shares of BETA Technologies in a research report on Monday, December 1st. They issued a “buy” rating and a $41.00 price objective for the company. BTIG Research initiated coverage on shares of BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $40.00 target price on the stock. Finally, Wall Street Zen cut BETA Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.13.

BETA Technologies Stock Up 0.3%

Shares of BETA opened at $27.24 on Thursday. The stock has a market capitalization of $6.01 billion and a P/E ratio of -2.77. BETA Technologies has a 52 week low of $22.40 and a 52 week high of $39.50. The business has a 50-day moving average of $28.85.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Thursday, December 4th. The company reported ($9.83) earnings per share for the quarter. The company had revenue of $8.92 million during the quarter, compared to the consensus estimate of $7.50 million.

Institutional Trading of BETA Technologies

Several institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in shares of BETA Technologies in the fourth quarter valued at about $1,386,000. Green Alpha Advisors LLC purchased a new position in BETA Technologies in the 4th quarter valued at about $603,000. Finally, Wolff Wiese Magana LLC purchased a new position in BETA Technologies in the 4th quarter valued at about $42,000.

About BETA Technologies

BETA Technologies is an aerospace company focused on the development and manufacture of electric aircraft and the supporting infrastructure required to operate them. The firm designs and tests electric vertical takeoff and landing (eVTOL) and short-range electric aircraft intended for passenger and cargo missions, with an emphasis on reducing carbon emissions and operating costs for regional transport and logistics applications.

In addition to airframes and propulsion systems, BETA develops charging and ground-support technologies to enable routine electric flight operations.