BETA Technologies (NYSE:BETA) Shares Climb 5.8% – What’s Next?

BETA Technologies Inc (NYSE:BETA) shares shot up 5.8% on Friday. The stock traded as high as $24.61 and last traded at $24.4950. 619,435 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,806,988 shares. The stock had previously closed at $23.15.

Analyst Ratings Changes

BETA has been the subject of a number of research reports. BTIG Research restated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.11.

BETA Technologies Stock Up 4.6%

The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average price is $21.57 and its 200-day moving average price is $18.41. The company has a market cap of $5.46 billion and a price-to-earnings ratio of -1.87.

BETA Technologies (NYSE:BETA) last posted its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $14.66 million during the quarter. Sell-side analysts predict that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kyle Clark sold 23,205 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10. Following the completion of the transaction, the insider owned 5,235,936 shares in the company, valued at approximately $132,050,305.92. This represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Stone bought 13,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was acquired at an average cost of $19.19 per share, with a total value of $251,868.75. Following the transaction, the director 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 disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 223,901 shares of company stock worth $5,350,168. 24.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after purchasing an additional 685 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $35,000. Allworth Financial LP grew its stake in shares of BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after buying an additional 1,286 shares in the last quarter. Manchester Capital Management LLC acquired a new position in BETA Technologies during the fourth quarter worth $38,000. Finally, IFP Advisors Inc raised its position in BETA Technologies by 555.6% during the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after acquiring an additional 1,528 shares in the last quarter.

BETA Technologies Company Profile

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA’s aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.