BETA Technologies (NYSE:BETA) Shares Down 5.8% on Analyst Downgrade

Shares of BETA Technologies Inc (NYSE:BETA) traded down 5.8% on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $43.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. BETA Technologies traded as low as $16.14 and last traded at $15.88. 462,173 shares traded hands during trading, a decline of 60% from the average session volume of 1,161,622 shares. The stock had previously closed at $16.85.

A number of other analysts have also weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 target price on shares of BETA Technologies in a research note on Tuesday, March 10th. Bank of America increased their price objective on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, December 17th. Citigroup initiated coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued a “buy” rating and a $41.00 target price for the company. BTIG Research reiterated a “buy” rating and set a $40.00 target price on shares of BETA Technologies in a research report on Tuesday, March 10th. Finally, UBS Group set a $24.00 price target on shares of BETA Technologies and gave the company a “buy” rating in a research note on Monday, February 9th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.89.

Institutional Trading of BETA Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $35,000. T. Rowe Price Investment Management Inc. bought a new stake in BETA Technologies in the 4th quarter valued at $35,347,000. Zimmer Partners LP bought a new stake in BETA Technologies in the 4th quarter valued at $2,116,000. Symmetry Investments LP acquired a new stake in BETA Technologies during the 4th quarter valued at $1,269,000. Finally, Quadrature Capital Ltd acquired a new stake in BETA Technologies during the 4th quarter valued at $246,000.

BETA Technologies Price Performance

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 business has a 50-day simple moving average of $21.48. The company has a market capitalization of $3.49 billion and a PE ratio of -1.60.

BETA Technologies (NYSE:BETA) last issued 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 for the quarter, compared to the consensus estimate of $6.69 million. The business’s revenue for the quarter was up 152.3% compared to the same quarter last year.

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.