Wall Street Zen Downgrades Better Home & Finance (NASDAQ:BETR) to Strong Sell

Better Home & Finance (NASDAQ:BETR) was downgraded by Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday.

BETR has been the subject of several other research reports. Roth Capital began coverage on shares of Better Home & Finance in a research note on Monday, June 15th. They issued a “buy” rating and a $35.00 target price for the company. BTIG Research began coverage on shares of Better Home & Finance in a report on Tuesday, June 16th. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $32.00 price objective on shares of Better Home & Finance in a research report on Monday, July 20th. Zacks Research raised shares of Better Home & Finance to a “hold” rating in a research report on Wednesday, July 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $35.00 price objective on shares of Better Home & Finance in a research note on Friday. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Better Home & Finance presently has an average rating of “Moderate Buy” and an average target price of $36.33.

Better Home & Finance Price Performance

BETR opened at $23.50 on Friday. The firm has a market cap of $443.44 million, a P/E ratio of -2.00 and a beta of 1.74. Better Home & Finance has a 52 week low of $12.57 and a 52 week high of $94.06. The business’s fifty day simple moving average is $25.73 and its 200 day simple moving average is $30.55.

Insiders Place Their Bets

In other Better Home & Finance news, Director Harit Talwar purchased 5,000 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $25.34 per share, with a total value of $126,700.00. Following the purchase, the director owned 44,698 shares in the company, valued at approximately $1,132,647.32. This represents a 12.60% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Chad M. Smith sold 2,455 shares of Better Home & Finance stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $30.16, for a total value of $74,042.80. Following the completion of the sale, the chief operating officer owned 21,061 shares of the company’s stock, valued at $635,199.76. This trade represents a 10.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have bought 51,433 shares of company stock valued at $1,334,148. 27.72% of the stock is owned by company insiders.

Institutional Investors Weigh In On Better Home & Finance

Several hedge funds have recently modified their holdings of BETR. JPMorgan Chase & Co. purchased a new stake in Better Home & Finance in the second quarter valued at approximately $29,000. Russell Investments Group Ltd. purchased a new position in Better Home & Finance during the third quarter worth approximately $31,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Better Home & Finance in the 2nd quarter valued at $33,000. Activest Wealth Management acquired a new position in shares of Better Home & Finance in the 4th quarter valued at $59,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Better Home & Finance during the 2nd quarter valued at $72,000. 20.94% of the stock is 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.