BETA Technologies (NYSE:BETA) Stock Price Down 6.4% – Here’s What Happened

BETA Technologies Inc (NYSE:BETA) shares traded down 6.4% on Wednesday . The company traded as low as $29.56 and last traded at $29.60. 52,452 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,166,585 shares. The stock had previously closed at $31.62.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Cantor Fitzgerald began coverage on BETA Technologies in a report on Monday, December 1st. They set an “overweight” rating and a $42.00 price objective for the company. BTIG Research assumed coverage on BETA Technologies in a research note on Monday, December 1st. They set a “buy” rating and a $40.00 price target for the company. Morgan Stanley started coverage on BETA Technologies in a report on Monday, December 1st. They issued an “overweight” rating and a $34.00 price objective on the stock. Wall Street Zen lowered BETA Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Citigroup initiated coverage on shares of BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $41.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.13.

BETA Technologies Stock Performance

BETA Technologies (NYSE:BETA) last announced its earnings results on Thursday, December 4th. The company reported ($9.83) EPS for the quarter. The company had revenue of $8.92 million during the quarter, compared to analyst estimates of $7.50 million.

About BETA Technologies

BETA Technologies (NYSE: BETA) is an American aerospace and energy-technology company focused on the development of electric aircraft and the supporting charging and energy-management systems needed for electric aviation. The firm designs and manufactures electric vertical takeoff and landing (eVTOL) platforms and related subsystems intended to serve short-haul and regional logistics, passenger mobility, and time-sensitive medical transport use cases. Its offerings combine aircraft design, electric propulsion technologies, avionics integration and ground charging infrastructure to enable point-to-point routes that reduce reliance on fossil fuels.

In addition to airframe and propulsion development, BETA builds charging hardware and software to support operations of its aircraft and other electric vehicles, aiming to provide end-to-end solutions for operators.