The Goldman Sachs Group Cuts BETA Technologies (NYSE:BETA) Price Target to $38.00
by Danessa Lincoln · The Markets DailyBETA Technologies (NYSE:BETA – Free Report) had its price target trimmed by The Goldman Sachs Group from $43.00 to $38.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other equities research analysts also recently commented on the company. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Citigroup assumed coverage on BETA Technologies in a report on Monday, December 1st. They issued a “buy” rating and a $41.00 target price on the stock. UBS Group set a $24.00 target price on BETA Technologies and gave the company a “buy” rating in a report on Monday, February 9th. Morgan Stanley decreased their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a report on Monday, March 9th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.89.
Check Out Our Latest Report on BETA Technologies
BETA Technologies Price Performance
Shares of BETA opened at $15.82 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The stock has a 50 day simple moving average of $20.68. BETA Technologies has a 12-month low of $14.18 and a 12-month high of $39.50. The firm has a market cap of $3.50 billion and a PE ratio of -1.34.
BETA Technologies (NYSE:BETA – Get Free Report) last released its earnings results on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The company had revenue of $11.13 million for the quarter, compared to analyst estimates of $6.69 million. The firm’s revenue for the quarter was up 152.3% compared to the same quarter last year.
Institutional Trading of BETA Technologies
A number of hedge funds have recently modified their holdings of the business. Sandia Investment Management LP purchased a new position in BETA Technologies in the fourth quarter valued at about $26,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies during the 4th quarter worth about $35,000. Manchester Capital Management LLC acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $38,000. Wolff Wiese Magana LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $42,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $70,000.
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.