BETA Technologies (NYSE:BETA) Trading Down 5.7% – Should You Sell?

BETA Technologies Inc (NYSE:BETA)’s stock price traded down 5.7% during trading on Friday . The stock traded as low as $26.86 and last traded at $26.91. 159,932 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 812,357 shares. The stock had previously closed at $28.55.

Analyst Ratings Changes

Several research firms recently issued reports on BETA. Morgan Stanley began coverage on BETA Technologies in a research note on Monday, December 1st. They set an “overweight” rating and a $34.00 price objective for the company. Needham & Company LLC initiated coverage on BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $34.00 price target on the stock. Jefferies Financial Group began coverage on BETA Technologies in a report on Sunday, November 30th. They set a “hold” rating and a $30.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, Zacks Research upgraded shares of BETA Technologies to a “hold” rating in a research report on Tuesday, December 2nd. Seven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.13.

BETA Technologies Stock Performance

The business has a 50 day simple moving average of $28.97.

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

Institutional Trading of BETA Technologies

An institutional investor recently bought a new position in BETA Technologies stock. Green Alpha Advisors LLC bought a new position in BETA Technologies Inc (NYSE:BETA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,373 shares of the company’s stock, valued at approximately $603,000.

About BETA Technologies

BETA Technologies is an aerospace company focused on the development and manufacture of electric aircraft and the supporting infrastructure required to operate them. The firm designs and tests electric vertical takeoff and landing (eVTOL) and short-range electric aircraft intended for passenger and cargo missions, with an emphasis on reducing carbon emissions and operating costs for regional transport and logistics applications.

In addition to airframes and propulsion systems, BETA develops charging and ground-support technologies to enable routine electric flight operations.