BETA Technologies (NYSE:BETA) Hits New 12-Month Low After Analyst Downgrade

BETA Technologies Inc (NYSE:BETA)’s share price hit a new 52-week low during trading on Wednesday 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 $15.51 and last traded at $15.6450, with a volume of 160516 shares changing hands. The stock had previously closed at $15.76.

Several other brokerages have also commented on BETA. Zacks Research upgraded shares of BETA Technologies to a “hold” rating in a research report on Tuesday, December 2nd. Bank of America boosted their price target on BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Citigroup began coverage on BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $41.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $38.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Finally, Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, BETA Technologies has an average rating of “Moderate Buy” and a consensus price target of $34.89.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds have recently bought and sold shares of the stock. General Electric Co purchased a new stake in shares of BETA Technologies in the fourth quarter valued at $644,962,000. TPG GP A LLC purchased a new stake in BETA Technologies during the 4th quarter worth about $462,515,000. Amazon Com Inc. purchased a new stake in BETA Technologies during the 4th quarter worth about $331,577,000. Vanguard Group Inc. acquired a new position in BETA Technologies in the 4th quarter valued at about $77,089,000. Finally, Norges Bank acquired a new position in BETA Technologies in the 4th quarter valued at about $41,485,000.

BETA Technologies Trading Down 0.5%

The stock has a market capitalization of $3.47 billion and a PE ratio of -1.58. The company has a current ratio of 22.77, a quick ratio of 22.77 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $21.21.

BETA Technologies (NYSE:BETA) last released 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). The business had revenue of $11.13 million for the quarter, compared to the consensus estimate of $6.69 million. The business’s revenue was up 152.3% compared to the same quarter last year.

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.