BETA Technologies Inc (NYSE:BETA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of BETA Technologies Inc (NYSE:BETA) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $31.1111.

Several brokerages recently commented on BETA. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, May 13th. Cantor Fitzgerald lowered their target price on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. BTIG Research dropped their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Weiss Ratings upgraded BETA Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday. Finally, Citigroup reduced their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, May 18th.

Insider Buying and Selling at BETA Technologies

In other news, insider Kyle Clark sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $17.41, for a total transaction of $261,150.00. Following the transaction, the insider owned 5,554,837 shares in the company, valued at approximately $96,709,712.17. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Robert Stone acquired 17,135 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were bought at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the transaction, the director directly owned 1,767,049 shares in the company, valued at approximately $25,781,244.91. This represents a 0.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 105,000 shares of company stock valued at $1,703,100. Insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BETA. Bank of New York Mellon Corp acquired a new position in shares of BETA Technologies during the second quarter worth approximately $2,877,000. Parallel Advisors LLC lifted its holdings in shares of BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after purchasing an additional 685 shares in the last quarter. Bank of America Corp DE grew its position in BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after purchasing an additional 187,807 shares during the period. California State Teachers Retirement System acquired a new stake in BETA Technologies in the 1st quarter valued at $27,000. Finally, Readystate Asset Management LP increased its stake in BETA Technologies by 19.0% during the 1st quarter. Readystate Asset Management LP now owns 25,000 shares of the company’s stock valued at $368,000 after purchasing an additional 4,000 shares in the last quarter.

BETA Technologies Trading Up 3.6%

BETA opened at $23.53 on Friday. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a fifty day moving average of $17.82 and a 200-day moving average of $17.89. The stock has a market cap of $5.23 billion and a PE ratio of -1.90. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. BETA Technologies’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that BETA Technologies will post -2.17 EPS for the current year.

About BETA Technologies

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.