BETA Technologies (NYSE:BETA) Shares Down 9.1% – Time to Sell?

BETA Technologies Inc (NYSE:BETA) fell 9.1% during trading on Wednesday . The stock traded as low as $16.65 and last traded at $16.7040. Approximately 301,924 shares traded hands during trading, a decline of 79% from the average session volume of 1,466,329 shares. The stock had previously closed at $18.37.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BETA. The Goldman Sachs Group decreased their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Cantor Fitzgerald dropped their target price on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, BTIG Research lowered their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Nine 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Price Performance

The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.92 billion and a PE ratio of -1.43. The business has a fifty day moving average price of $17.32 and a 200-day moving average price of $18.07.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business’s revenue was up 5.2% compared to the same quarter last year. Research analysts expect that BETA Technologies Inc will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling at BETA Technologies

In other news, COO Sean Donovan sold 19,008 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $344,424.96. Following the completion of the sale, the chief operating officer owned 176,195 shares of the company’s stock, valued at approximately $3,192,653.40. This represents a 9.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 67,296 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $1,219,403.52. Following the completion of the sale, the insider directly owned 748,915 shares of the company’s stock, valued at $13,570,339.80. This trade represents a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 243,928 shares of company stock valued at $4,220,475. 24.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BETA Technologies

A number of large investors have recently added to or reduced their stakes in the business. General Electric Co bought a new stake in BETA Technologies in the fourth quarter worth $644,962,000. TPG GP A LLC bought a new position in shares of BETA Technologies during the fourth quarter valued at about $462,515,000. Amazon Com Inc. bought a new position in shares of BETA Technologies during the fourth quarter valued at about $331,577,000. Vanguard Group Inc. purchased a new position in shares of BETA Technologies in the fourth quarter worth about $77,089,000. Finally, Norges Bank purchased a new position in shares of BETA Technologies in the fourth quarter worth about $41,485,000.

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.