BETA Technologies (NYSE:BETA) Raised to “Strong-Buy” at Citigroup

BETA Technologies (NYSE:BETA) was upgraded by equities research analysts at Citigroup to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

BETA has been the topic of several other reports. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Jefferies Financial Group dropped their target price on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Cantor Fitzgerald dropped their target price on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Morgan Stanley dropped their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. Finally, 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, February 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.89.

BETA Technologies Price Performance

BETA Technologies stock opened at $14.85 on Monday. The business’s 50 day moving average price is $16.53. BETA Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The company has a market cap of $3.30 billion and a price-to-earnings ratio of -1.25. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts predict that BETA Technologies will post -2.13 EPS for the current fiscal year.

Insider Activity

In other news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $336,778.32. Following the sale, the chief financial officer owned 90,465 shares of the company’s stock, valued at $1,639,225.80. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Lawrence Churchill sold 18,981 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $343,935.72. Following the completion of the sale, the chief technology officer directly owned 552,647 shares in the company, valued at approximately $10,013,963.64. This represents a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 138,928 shares of company stock worth $2,517,375. Corporate insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP bought a new stake in shares of BETA Technologies in the fourth quarter worth $26,000. California State Teachers Retirement System bought a new stake in shares of BETA Technologies in the first quarter worth $27,000. Rockefeller Capital Management L.P. bought a new stake in shares of BETA Technologies in the fourth quarter worth $35,000. Manchester Capital Management LLC bought a new stake in shares of BETA Technologies in the fourth quarter worth $38,000. Finally, Wolff Wiese Magana LLC bought a new stake in shares of BETA Technologies in the fourth quarter worth $42,000.

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.