BETA Technologies (NYSE:BETA) Sets New 52-Week Low – Here’s Why
by Tristan Rich · The Markets DailyBETA Technologies Inc (NYSE:BETA – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $18.24 and last traded at $19.11, with a volume of 1806624 shares changing hands. The stock had previously closed at $19.93.
Analyst Ratings Changes
BETA has been the topic of several research reports. Bank of America boosted their price target on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, December 17th. Zacks Research raised BETA Technologies to a “hold” rating in a report on Tuesday, December 2nd. Jefferies Financial Group initiated coverage on BETA Technologies in a research note on Sunday, November 30th. They set a “hold” rating and a $30.00 price objective for the company. Weiss Ratings began coverage on BETA Technologies in a report on Friday, January 30th. They issued a “sell (d-)” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BETA Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $38.13.
Check Out Our Latest Analysis on BETA
BETA Technologies Stock Performance
The firm has a market cap of $3.65 billion and a P/E ratio of -1.68. The company’s fifty day moving average price is $27.11.
BETA Technologies (NYSE:BETA – Get Free Report) last issued its earnings results on Thursday, December 4th. The company reported ($9.83) EPS for the quarter. The business had revenue of $8.92 million during the quarter, compared to analysts’ expectations of $7.50 million.
Institutional Investors Weigh In On BETA Technologies
Large investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC bought a new position in BETA Technologies during the fourth quarter valued at about $42,000. Clean Yield Group acquired a new position in shares of BETA Technologies during the 4th quarter valued at about $235,000. Kingdom Financial Group LLC. bought a new position in shares of BETA Technologies in the 4th quarter valued at approximately $297,000. Stratos Wealth Partners LTD. bought a new position in shares of BETA Technologies in the 4th quarter valued at approximately $360,000. Finally, Renaissance Capital LLC acquired a new stake in BETA Technologies in the 4th quarter worth approximately $450,000.
BETA Technologies Company Profile
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.