BETA Technologies Inc (NYSE:BETA) Stock Has Average Price Target of $31.11 According to Analysts

Shares of BETA Technologies Inc (NYSE:BETA) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $31.11.

BETA has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. BTIG Research reiterated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th.

Insider Transactions at BETA Technologies

In related news, Director Michael Stone purchased 13,125 shares of BETA Technologies stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, with a total value of $251,868.75. Following the purchase, the director directly owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. This represents a 0.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kyle Clark sold 30,000 shares of BETA Technologies stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00. Following the sale, the insider owned 5,396,941 shares of the company’s stock, valued at $137,190,240.22. The trade was a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 233,901 shares of company stock worth $5,753,118. Company insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Several institutional investors and hedge funds have recently modified their holdings of BETA. TPG GP A LLC bought a new stake in BETA Technologies during the 4th quarter valued at $462,515,000. Amazon Com Inc. bought a new position in shares of BETA Technologies during the 4th quarter worth $331,577,000. Norges Bank purchased a new position in shares of BETA Technologies during the fourth quarter valued at $41,485,000. Masters Capital Management LLC purchased a new position in shares of BETA Technologies during the first quarter valued at $10,290,000. Finally, Clearbridge Investments LLC bought a new stake in shares of BETA Technologies in the fourth quarter valued at about $18,402,000.

BETA Technologies Stock Performance

NYSE:BETA opened at $21.67 on Friday. The firm has a market capitalization of $4.89 billion and a PE ratio of -1.66. The stock’s fifty day moving average is $21.96 and its 200 day moving average is $18.54. BETA Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The firm had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, sell-side analysts anticipate that BETA Technologies will post -2.25 earnings per share for the current year.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.