Needham & Company LLC Reiterates “Buy” Rating for BETA Technologies (NYSE:BETA)

BETA Technologies (NYSE:BETA)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They currently have a $34.00 target price on the stock. Needham & Company LLC’s price target suggests a potential upside of 22.57% from the stock’s previous close.

BETA has been the topic of a number of other reports. The Goldman Sachs Group initiated coverage on BETA Technologies in a research report on Monday, December 1st. They set a “buy” rating and a $47.00 price objective on the stock. Bank of America raised their target price on shares of BETA Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Wall Street Zen lowered shares of BETA Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. BTIG Research initiated coverage on shares of BETA Technologies in a research note on Monday, December 1st. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of BETA Technologies in a research note on Sunday, November 30th. They set a “hold” rating and a $30.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $38.13.

BETA Technologies Stock Performance

Shares of BETA stock opened at $27.74 on Thursday. The company has a market cap of $6.12 billion and a P/E ratio of -2.82. BETA Technologies has a 1 year low of $22.40 and a 1 year high of $39.50. The company’s fifty day simple moving average is $28.81.

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 the consensus estimate of $7.50 million.

Institutional Trading of BETA Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies during the 4th quarter valued at about $42,000. Green Alpha Advisors LLC bought a new stake in shares of BETA Technologies in the fourth quarter worth about $603,000. Finally, SG Americas Securities LLC purchased a new stake in shares of BETA Technologies in the fourth quarter worth about $1,386,000.

About BETA Technologies

BETA Technologies is an aerospace company focused on the development and manufacture of electric aircraft and the supporting infrastructure required to operate them. The firm designs and tests electric vertical takeoff and landing (eVTOL) and short-range electric aircraft intended for passenger and cargo missions, with an emphasis on reducing carbon emissions and operating costs for regional transport and logistics applications.

In addition to airframes and propulsion systems, BETA develops charging and ground-support technologies to enable routine electric flight operations.