BETA Technologies (NYSE:BETA) Price Target Cut to $33.00 by Analysts at Citigroup

BETA Technologies (NYSE:BETA) had its price target dropped by stock analysts at Citigroup from $41.00 to $33.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 112.37% from the stock’s previous close.

BETA has been the topic of a number of other reports. BTIG Research reaffirmed a “buy” rating and set a $40.00 price target on shares of BETA Technologies in a research report on Tuesday, March 10th. Bank of America increased their target price on BETA Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Weiss Ratings initiated coverage on shares of BETA Technologies in a research note on Friday, January 30th. They issued a “sell (d-)” rating on the stock. Jefferies Financial Group lowered their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Monday, March 9th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, BETA Technologies currently has an average rating of “Moderate Buy” and an average price target of $34.00.

BETA Technologies Trading Up 3.0%

Shares of BETA traded up $0.45 during mid-day trading on Thursday, hitting $15.54. The company’s stock had a trading volume of 551,242 shares, compared to its average volume of 1,384,551. The company has a market cap of $3.44 billion and a price-to-earnings ratio of -1.31. The company has a 50-day moving average price of $18.37. The company has a quick ratio of 22.77, a current ratio of 22.77 and a debt-to-equity ratio of 0.10. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50.

BETA Technologies (NYSE:BETA) last posted its earnings results on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The business had revenue of $11.13 million during the quarter, compared to the consensus estimate of $6.69 million. The firm’s revenue for the quarter was up 152.3% on a year-over-year basis.

Institutional Inflows and Outflows

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

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.