Better Home & Finance (NASDAQ:BETR) Shares Gap Down – Here’s Why

Better Home & Finance Holding Company (NASDAQ:BETR) shares gapped down prior to trading on Thursday . The stock had previously closed at $42.69, but opened at $34.26. Better Home & Finance shares last traded at $31.8690, with a volume of 502,295 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on BETR. Weiss Ratings reissued a “sell (e+)” rating on shares of Better Home & Finance in a research report on Monday, April 20th. Wall Street Zen upgraded Better Home & Finance from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. Cantor Fitzgerald raised Better Home & Finance to a “strong-buy” rating in a report on Tuesday, January 27th. Finally, Needham & Company LLC began coverage on shares of Better Home & Finance in a report on Monday. They issued a “buy” rating and a $53.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $46.50.

Better Home & Finance Stock Performance

The stock has a market cap of $505.51 million, a P/E ratio of -2.84 and a beta of 1.83. The company has a 50-day simple moving average of $35.90 and a 200-day simple moving average of $41.28.

Insider Transactions at Better Home & Finance

In related news, General Counsel Paula Tuffin sold 8,018 shares of Better Home & Finance stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $28.67, for a total value of $229,876.06. Following the completion of the sale, the general counsel directly owned 42,487 shares in the company, valued at $1,218,102.29. This trade represents a 15.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Iv L.P. Framework bought 54,384 shares of the business’s stock in a transaction on Friday, April 10th. The shares were acquired at an average price of $32.96 per share, for a total transaction of $1,792,496.64. Following the completion of the transaction, the insider owned 1,006,696 shares in the company, valued at approximately $33,180,700.16. This trade represents a 5.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 268,893 shares of company stock worth $8,603,664 and have sold 21,015 shares worth $612,002. 23.59% of the stock is owned by company insiders.

Hedge Funds Weigh In On Better Home & Finance

Large investors have recently bought and sold shares of the business. Comerica Bank bought a new position in shares of Better Home & Finance in the 4th quarter worth $1,819,000. Penserra Capital Management LLC acquired a new stake in shares of Better Home & Finance in the third quarter valued at approximately $1,647,000. Activest Wealth Management bought a new stake in shares of Better Home & Finance in the fourth quarter worth $59,000. FNY Investment Advisers LLC acquired a new position in Better Home & Finance during the third quarter worth $29,000. Finally, Brooklyn FI LLC bought a new position in Better Home & Finance in the third quarter valued at $202,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

About Better Home & Finance

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner’s insurance services. The company was founded in 2014 and is headquartered in New York, NY.