BETA Technologies (NYSE:BETA) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen lowered shares of BETA Technologies (NYSE:BETA) from a hold rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a research note on Monday, October 5th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday. Finally, BTIG Research restated a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, BETA Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

BETA Technologies Trading Up 6.7%

NYSE:BETA opened at $19.84 on Friday. BETA Technologies has a 1 year low of $13.43 and a 1 year high of $39.50. The stock’s fifty day moving average price is $21.35 and its two-hundred day moving average price is $19.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The company has a market cap of $4.47 billion and a P/E ratio of -1.52.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. The company had revenue of $14.66 million during the quarter. As a group, analysts expect that BETA Technologies will post -2.25 EPS for the current year.

Insider Transactions at BETA Technologies

In other news, Director Michael Stone bought 13,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was bought at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the transaction, the director directly owned 1,792,994 shares of the company’s stock, valued at $34,407,554.86. This represents a 0.74% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kyle Clark sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider owned 5,396,941 shares of the company’s stock, valued at $137,190,240.22. The trade was a 0.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 313,901 shares of company stock worth $7,306,318. 24.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Masters Capital Management LLC purchased a new position in shares of BETA Technologies in the first quarter worth about $10,290,000. Bank of America Corp DE lifted its stake in shares of 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 acquiring an additional 187,807 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies in the 2nd quarter valued at about $2,877,000. Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in BETA Technologies during the 3rd quarter valued at about $2,905,000. Finally, Squarepoint Ops LLC purchased a new stake in BETA Technologies during the 2nd quarter valued at about $2,045,000.

BETA Technologies News Summary

Here are the key news stories impacting BETA Technologies this week:

• Positive Sentiment: FAA authorization advances commercial eVTOL plans: BETA reportedly became the first company to secure landmark Federal Aviation Administration authorization allowing its electric VTOL aircraft to conduct passenger-carrying flights. The approval strengthens the company’s path toward commercial operations, validates its aircraft and operating procedures, and could expand future revenue opportunities. BETA secures FAA approval for eVTOL aircraft flights
• Positive Sentiment: Broader industry attention supports the catalyst: Coverage indicates BETA’s electric aircraft is entering new operating territories following the FAA authorization, highlighting progress in testing, market surveys and the potential transition from development toward customer service. BETA Technologies takes electric planes to new territories
• Positive Sentiment: Analyst remains constructive: Needham & Company reaffirmed its Buy rating on BETA, providing additional support for investor sentiment after the regulatory announcement. BETA stock rating reaffirmed as Buy by Needham
• Neutral Sentiment: Insider sale disclosed: Director and insider Kyle Clark sold 10,000 shares for approximately $190,600, reducing his ownership by about 0.20%. The relatively small sale may attract attention but leaves him with more than 5 million shares, limiting its significance as a standalone signal. Kyle Clark insider transaction

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.