Wall Street Zen Downgrades Better Home & Finance (NASDAQ:BETR) to Strong Sell

by · The Cerbat Gem

Better Home & Finance (NASDAQ:BETR – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

BETR has been the topic of several other research reports. B. Riley Financial assumed coverage on Better Home & Finance in a research note on Wednesday, September 9th. They set a “buy” rating and a $26.00 price target on the stock. Needham & Company LLC dropped their price objective on Better Home & Finance from $35.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Zacks Research raised Better Home & Finance to a “hold” rating in a research note on Wednesday, July 29th. Cantor Fitzgerald cut Better Home & Finance from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $16.00 in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Better Home & Finance in a research report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.86.

Check Out Our Latest Research Report on Better Home & Finance

Better Home & Finance Price Performance

Shares of NASDAQ BETR opened at $12.95 on Friday. Better Home & Finance has a 52 week low of $11.11 and a 52 week high of $94.06. The firm has a 50-day moving average price of $18.19 and a 200 day moving average price of $27.10. The stock has a market capitalization of $246.05 million, a price-to-earnings ratio of -1.18 and a beta of 1.68.

Better Home & Finance (NASDAQ:BETR – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.23). Better Home & Finance had a negative return on equity of 409.62% and a negative net margin of 94.52%.The company had revenue of $54.70 million for the quarter. Equities research analysts expect that Better Home & Finance will post -7.2 EPS for the current fiscal year.

Insider Activity at Better Home & Finance

In other news, insider Chad Smith sold 3,307 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total transaction of $42,494.95. Following the completion of the transaction, the insider directly owned 1,693 shares of the company’s stock, valued at $21,755.05. This trade represents a 66.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Better Home & Finance

Several hedge funds have recently bought and sold shares of BETR. Goldman Sachs Group Inc. raised its holdings in shares of Better Home & Finance by 3.1% in the first quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company’s stock worth $3,207,000 after acquiring an additional 8,924 shares during the last quarter. Geode Capital Management LLC increased its position in Better Home & Finance by 90.6% during the 2nd quarter. Geode Capital Management LLC now owns 129,881 shares of the company’s stock worth $1,609,000 after purchasing an additional 61,740 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Better Home & Finance in the 2nd quarter valued at about $29,000. XTX Topco Ltd purchased a new position in Better Home & Finance in the 2nd quarter valued at about $197,000. Finally, New York State Common Retirement Fund purchased a new position in Better Home & Finance in the 2nd quarter valued at about $100,000. Hedge funds and other institutional investors own 20.94% of the company’s stock.

About Better Home & Finance

(Get Free Report)

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner’s insurance services. The company was founded in 2014 and is headquartered in New York, NY.

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