Barclays Begins Coverage on BETA Technologies (NYSE:BETA)

Investment analysts at Barclays started coverage on shares of BETA Technologies (NYSE:BETA) in a research note issued on Friday, Briefing.com reports. The brokerage set an “overweight” rating and a $35.00 price target on the stock. Barclays‘s price objective indicates a potential upside of 70.27% from the company’s previous close.

BETA has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Monday. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, August 12th. BTIG Research restated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Ten equities 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’s stock. According to MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

BETA Technologies Stock Performance

NYSE BETA opened at $20.55 on Friday. The company has a market capitalization of $4.63 billion and a price-to-earnings ratio of -1.58. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The stock has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $18.73. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA) last announced its earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The company had revenue of $14.66 million for the quarter. Sell-side analysts expect that BETA Technologies will post -2.25 EPS for the current year.

Insider Buying and Selling at BETA Technologies

In related news, Director Michael Stone bought 13,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the transaction, the director directly owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. The trade was a 0.74% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kyle Clark sold 10,000 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $21.30, for a total transaction of $213,000.00. Following the transaction, the insider directly owned 5,155,936 shares in the company, valued at approximately $109,821,436.80. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 243,901 shares of company stock valued at $5,966,118 in the last quarter. 24.47% of the stock is currently owned by company insiders.

Institutional Trading of BETA Technologies

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in BETA Technologies by 275.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company’s stock valued at $102,000 after buying an additional 3,388 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in BETA Technologies in the second quarter valued at approximately $235,000. IFP Advisors Inc grew its stake in BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after acquiring an additional 1,528 shares during the period. Squarepoint Ops LLC bought a new stake in shares of BETA Technologies during the second quarter valued at approximately $2,045,000. Finally, Allworth Financial LP raised its position in shares of BETA Technologies by 257.2% during the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,286 shares during the period.

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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.