BETA Technologies (NYSE:BETA) Sets New 52-Week Low – Time to Sell?

Shares of BETA Technologies Inc (NYSE:BETA) reached a new 52-week low during trading on Friday . The stock traded as low as $14.08 and last traded at $14.1180, with a volume of 1188317 shares changing hands. The stock had previously closed at $14.98.

Analyst Upgrades and Downgrades

BETA has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on shares of BETA Technologies from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, March 17th. Bank of America lifted their price objective on shares of BETA Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, December 17th. Jefferies Financial Group lowered their price objective on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Zacks Research upgraded BETA Technologies to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings assumed coverage on BETA Technologies in a report on Friday, January 30th. They issued a “sell (d-)” rating on the stock. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.89.

BETA Technologies Stock Performance

The company has a market capitalization of $3.12 billion and a price-to-earnings ratio of -1.19. 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 is $19.15.

BETA Technologies (NYSE:BETA) last issued its earnings results on Monday, March 9th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The business had revenue of $11.13 million during the quarter, compared to analyst estimates of $6.69 million. The firm’s revenue was up 152.3% on a year-over-year basis.

Institutional Investors Weigh In On BETA Technologies

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

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.