BETA Technologies (NYSE:BETA) Shares Down 6% – Time to Sell?

BETA Technologies Inc (NYSE:BETA) shares traded down 6% on Tuesday . The stock traded as low as $15.21 and last traded at $15.5310. 204,734 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,392,308 shares. The stock had previously closed at $16.53.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings assumed coverage on shares of BETA Technologies in a research note on Friday, January 30th. They set a “sell (d-)” rating for the company. Bank of America lifted their price objective on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. UBS Group set a $24.00 price objective on shares of BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Monday, March 9th. Nine equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

BETA Technologies Stock Down 4.5%

The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The stock has a 50 day simple moving average of $17.83. The stock has a market capitalization of $3.49 billion and a P/E ratio of -1.33.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The business had revenue of $11.13 million for the quarter, compared to the consensus estimate of $6.69 million. The firm’s revenue for the quarter was up 152.3% compared to the same quarter last year.

Institutional Trading of BETA Technologies

A number of large investors have recently made changes to their positions in BETA. General Electric Co purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $644,962,000. TPG GP A LLC purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $462,515,000. Amazon Com Inc. purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $331,577,000. Vanguard Group Inc. purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $77,089,000. Finally, Norges Bank purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $41,485,000.

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.