BETA Technologies (NYSE:BETA) Shares Gap Up – Here’s What Happened

BETA Technologies Inc (NYSE:BETA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $16.77, but opened at $19.98. BETA Technologies shares last traded at $19.02, with a volume of 1,352,569 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on BETA shares. UBS Group set a $24.00 target price on shares of BETA Technologies and gave the stock a “buy” rating in a report on Monday. Citigroup initiated coverage on BETA Technologies in a report on Monday, December 1st. They set a “buy” rating and a $41.00 price target on the stock. Jefferies Financial Group raised shares of BETA Technologies from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday. Cantor Fitzgerald initiated coverage on BETA Technologies in a research report on Monday, December 1st. They set an “overweight” rating and a $42.00 target price for the company. Finally, The Goldman Sachs Group started coverage on BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $47.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.56.

BETA Technologies Stock Down 2.4%

The company has a market capitalization of $3.84 billion and a price-to-earnings ratio of -1.77. The stock has a 50 day simple moving average of $26.02.

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

Institutional Trading of BETA Technologies

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

About BETA Technologies

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.