BETA Technologies (NYSE:BETA) Price Target Lowered to $31.00 at Cantor Fitzgerald

BETA Technologies (NYSE:BETA) had its price target lowered by stock analysts at Cantor Fitzgerald from $38.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 83.27% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group cut their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. The Goldman Sachs Group cut their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Citigroup reduced their price objective on BETA Technologies from $41.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Finally, Weiss Ratings began coverage on shares of BETA Technologies in a report on Friday, January 30th. They issued a “sell (d-)” rating on the stock. Nine investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.78.

BETA Technologies Trading Down 6.6%

Shares of BETA Technologies stock opened at $16.92 on Wednesday. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a 50-day moving average of $16.79. 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 market cap of $3.74 billion and a price-to-earnings ratio of -1.50.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that BETA Technologies will post -2.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other BETA Technologies news, CFO Herman Cueto sold 18,586 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the sale, the chief financial officer owned 90,465 shares of the company’s stock, valued at approximately $1,639,225.80. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Dunkiel sold 9,684 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $175,474.08. Following the completion of the sale, the insider owned 132,241 shares of the company’s stock, valued at $2,396,206.92. This trade represents a 6.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 138,928 shares of company stock worth $2,517,375. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BETA. Massachusetts Financial Services Co. MA acquired a new stake in BETA Technologies during the fourth quarter worth about $6,349,000. Liberty Street Advisors Inc. purchased a new stake in shares of BETA Technologies during the 4th quarter worth about $28,187,000. Pictet Asset Management Holding SA purchased a new stake in shares of BETA Technologies during the 4th quarter worth about $10,896,000. SG Americas Securities LLC acquired a new stake in BETA Technologies during the 4th quarter worth approximately $1,386,000. Finally, Kingdom Financial Group LLC. purchased a new position in BETA Technologies in the fourth quarter valued at approximately $297,000.

About BETA Technologies

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.