BETA Technologies (NYSE:BETA) Earns “Buy” Rating from Needham & Company LLC

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $34.00 target price on the stock. Needham & Company LLC’s price target indicates a potential upside of 69.36% from the company’s previous close.

BETA has been the subject of a number of other research reports. Morgan Stanley initiated coverage on BETA Technologies in a research report on Monday, December 1st. They issued an “overweight” rating and a $34.00 target price for the company. Citigroup initiated coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $41.00 price target on the stock. BTIG Research began coverage on shares of BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $40.00 price target on the stock. Bank of America boosted 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. Finally, Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.56.

BETA Technologies Trading Up 4.2%

BETA traded up $0.81 during trading on Monday, reaching $20.08. The stock had a trading volume of 937,776 shares, compared to its average volume of 1,053,057. The firm’s 50-day moving average is $22.65. BETA Technologies has a one year low of $15.61 and a one year high of $39.50. The stock has a market capitalization of $4.43 billion and a PE ratio of -2.02.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Monday, March 9th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($1.55). BETA Technologies’s revenue was up 152.3% on a year-over-year basis.

Institutional Trading of BETA Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in BETA. Sandia Investment Management LP purchased a new position in BETA Technologies in the fourth quarter worth approximately $26,000. Manchester Capital Management LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth about $38,000. Wolff Wiese Magana LLC purchased a new stake in BETA Technologies in the 4th quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new position in BETA Technologies in the fourth quarter valued at about $70,000. Finally, Parallel Advisors LLC purchased a new position in BETA Technologies during the fourth quarter worth about $74,000.

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.