BETA Technologies (NYSE:BETA) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of BETA Technologies (NYSE:BETA) from a sell rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Barclays initiated coverage on BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, October 21st. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.50.

BETA Technologies Trading Down 0.0%

BETA stock opened at $20.04 on Friday. BETA Technologies has a one year low of $13.43 and a one year high of $39.50. The stock has a market cap of $4.52 billion and a price-to-earnings ratio of -1.54. The company has a fifty day moving average price of $20.85 and a two-hundred day moving average price of $19.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

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

Insider Activity at BETA Technologies

In related news, insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the insider directly owned 4,965,936 shares in the company, valued at approximately $98,921,445.12. The trade was a 0.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 353,901 shares of company stock valued at $8,097,418 in the last three months. Insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors have recently modified their holdings of BETA. Masters Capital Management LLC bought a new stake in BETA Technologies during the first quarter valued at about $10,290,000. Bank of America Corp DE grew its stake in shares of BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after buying an additional 187,807 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of BETA Technologies during the 2nd quarter worth approximately $2,877,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in BETA Technologies in the 3rd quarter valued at about $2,905,000. Finally, Squarepoint Ops LLC acquired a new position in BETA Technologies during the 2nd quarter worth $2,045,000.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.