BETA Technologies Inc’s (NYSE:BETA) Lock-Up Period To Expire Tomorrow

BETA Technologies’ (NYSE:BETA) lock-up period is set to expire on Monday, May 4th. BETA Technologies had issued 29,852,941 shares in its IPO on November 4th. The total size of the offering was $1,014,999,994 based on an initial share price of $34.00. After the end of BETA Technologies’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BETA. The Goldman Sachs Group reduced their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Monday, March 9th. UBS Group set a $24.00 price target on BETA Technologies and gave the stock a “buy” rating in a research report on Monday, February 9th. Jefferies Financial Group reduced their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $38.00 price target on shares of BETA Technologies in a research report on Tuesday, March 10th. Nine 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 company has a consensus rating of “Moderate Buy” and an average price target of $33.56.

BETA Technologies Stock Performance

Shares of BETA stock opened at $16.25 on Friday. 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 1 year low of $13.43 and a 1 year high of $39.50. The stock’s fifty day simple moving average is $16.87. The firm has a market cap of $3.60 billion and a price-to-earnings ratio of -1.37.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The firm had revenue of $11.13 million during the quarter, compared to analyst estimates of $6.69 million. The firm’s revenue for the quarter was up 152.3% on a year-over-year basis. Equities research analysts predict that BETA Technologies will post -2.2 earnings per share for the current fiscal year.

Institutional Trading of BETA Technologies

Institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $6,349,000. Liberty Street Advisors Inc. acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $28,187,000. SG Americas Securities LLC acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $1,386,000. Clean Yield Group acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $235,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of BETA Technologies in the fourth quarter valued at $297,000.

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.