BETA Technologies (NYSE:BETA) Shares Gap Up – Should You Buy?

BETA Technologies Inc (NYSE:BETA) gapped up before the market opened on Monday . The stock had previously closed at $15.43, but opened at $16.00. BETA Technologies shares last traded at $16.2320, with a volume of 312,181 shares changing hands.

Analyst Ratings Changes

BETA has been the subject of several recent research reports. Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings initiated coverage on shares of BETA Technologies in a research report on Friday, January 30th. They set a “sell (d-)” rating for the company. Morgan Stanley cut their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Monday, March 9th. Finally, UBS Group set a $24.00 target price on shares of BETA Technologies and gave the company a “buy” rating in a research report on Monday, February 9th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

BETA Technologies Price Performance

The business’s 50-day moving average is $17.66. The company has a quick ratio of 22.77, a current ratio of 22.77 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.45 billion and a P/E ratio of -1.32.

BETA Technologies (NYSE:BETA) last posted its quarterly 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 for the quarter, compared to analyst estimates of $6.69 million. BETA Technologies’s revenue for the quarter was up 152.3% compared to the same quarter last year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently modified their holdings of the company. Sandia Investment Management LP bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $38,000. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $42,000. Finally, Kestra Advisory Services LLC bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $70,000.

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.