BETA Technologies (NYSE:BETA) Issues Quarterly Earnings Results

BETA Technologies (NYSE:BETA) issued its earnings results on Monday. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55), Briefing.com reports. The company’s quarterly revenue was up 152.3% on a year-over-year basis.

BETA Technologies Price Performance

Shares of NYSE BETA opened at $18.60 on Monday. The business’s 50-day simple moving average is $22.65. The stock has a market cap of $4.10 billion and a P/E ratio of -1.89. BETA Technologies has a 1 year low of $15.61 and a 1 year high of $39.50.

Wall Street Analyst Weigh In

BETA has been the subject of several research reports. The Goldman Sachs Group began coverage on BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $47.00 target price for the company. Morgan Stanley initiated coverage on BETA Technologies in a research note on Monday, December 1st. They issued an “overweight” rating and a $34.00 target price for the company. UBS Group set a $24.00 price target on BETA Technologies and gave the company a “buy” rating in a research note on Monday, February 9th. 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 report on Wednesday, February 11th. Finally, Weiss Ratings began coverage on shares of BETA Technologies in a research report on Friday, January 30th. They issued a “sell (d-)” rating for the company. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.56.

Hedge Funds Weigh In On BETA Technologies

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $9,340,000. Goldman Sachs Group Inc. purchased a new stake in BETA Technologies during the fourth quarter worth about $5,834,000. TD Asset Management Inc purchased a new position in shares of BETA Technologies during the fourth quarter valued at approximately $2,490,000. Parallel Advisors LLC acquired a new stake in shares of BETA Technologies during the fourth quarter valued at about $74,000. Finally, LPL Financial LLC purchased a new stake in shares of BETA Technologies during the fourth quarter worth about $372,000.

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.