BETA Technologies (NYSE:BETA) Reaches New 1-Year Low – Should You Sell?

BETA Technologies Inc (NYSE:BETA) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.76 and last traded at $21.87, with a volume of 175781 shares trading hands. The stock had previously closed at $23.19.

Wall Street Analyst Weigh In

BETA has been the subject of a number of recent research reports. BTIG Research assumed coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued a “buy” rating and a $40.00 price objective for the company. Bank of America boosted their price target on BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Jefferies Financial Group began coverage on BETA Technologies in a research note on Sunday, November 30th. They set a “hold” rating and a $30.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research report on Thursday, January 15th. Finally, Citigroup initiated coverage on shares of BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $41.00 target price for the company. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.13.

BETA Technologies Trading Down 6.5%

The firm has a market capitalization of $4.74 billion and a PE ratio of -2.19. The company has a 50-day simple moving average of $27.98.

BETA Technologies (NYSE:BETA) last announced its earnings results on Thursday, December 4th. The company reported ($9.83) earnings per share (EPS) for the quarter. The company had revenue of $8.92 million during the quarter, compared to the consensus estimate of $7.50 million.

Institutional Trading of BETA Technologies

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. purchased a new position in shares of BETA Technologies in the fourth quarter worth $77,089,000. Liberty Street Advisors Inc. purchased a new position in BETA Technologies in the 4th quarter worth $28,187,000. Pictet Asset Management Holding SA purchased a new position in BETA Technologies in the 4th quarter worth $10,896,000. Massachusetts Financial Services Co. MA acquired a new stake in BETA Technologies during the 4th quarter worth about $6,349,000. Finally, UBS Group AG purchased a new stake in BETA Technologies during the 4th quarter valued at about $5,357,000.

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.