Cantor Fitzgerald Lowers BETA Technologies (NYSE:BETA) Price Target to $31.00

by · The Cerbat Gem

BETA Technologies (NYSE:BETA – Get Free Report) had its price objective dropped by Cantor Fitzgerald from $38.00 to $31.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target points to a potential upside of 83.27% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. BTIG Research restated a “buy” rating and issued a $40.00 target price on shares of BETA Technologies in a research report on Tuesday, March 10th. Weiss Ratings assumed coverage on BETA Technologies in a research note on Friday, January 30th. They set a “sell (d-)” rating for the company. UBS Group set a $24.00 price target on BETA Technologies and gave the company a “buy” rating in a research report on Monday, February 9th. Finally, Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given 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 price target of $32.78.

View Our Latest Stock Analysis on BETA

BETA Technologies Stock Performance

BETA Technologies stock opened at $16.92 on Wednesday. The company has a quick ratio of 22.77, a current ratio of 22.77 and a debt-to-equity ratio of 0.10. BETA Technologies has a one year low of $13.43 and a one year high of $39.50. The business’s 50-day moving average price is $16.79. The company has a market capitalization of $3.74 billion and a price-to-earnings ratio of -1.50.

BETA Technologies (NYSE:BETA – Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that BETA Technologies will post -2.2 earnings per share for the current year.

Insider Activity at BETA Technologies

In other BETA Technologies news, insider Kyle Clark sold 4,965 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $89,965.80. Following the completion of the sale, the insider owned 49,746 shares in the company, valued at $901,397.52. This represents a 9.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Brian Dunkiel sold 9,684 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $175,474.08. Following the completion of the transaction, the insider owned 132,241 shares in the company, valued at $2,396,206.92. This trade represents a 6.82% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 138,928 shares of company stock worth $2,517,375. Insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

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

BETA Technologies Company Profile

(Get Free Report)

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.

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