BETA Technologies (NYSE:BETA) Shares Gap Up – What’s Next?

BETA Technologies Inc (NYSE:BETA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.56, but opened at $19.48. BETA Technologies shares last traded at $18.34, with a volume of 559,085 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BETA shares. Citigroup reduced their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. Morgan Stanley reduced their price target on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Cantor Fitzgerald reduced their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, UBS Group set a $24.00 price target on shares of BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

BETA Technologies Price Performance

The stock has a market capitalization of $4.02 billion and a P/E ratio of -1.46. The business’s 50 day simple moving average is $16.53 and its two-hundred day simple moving average is $21.25. 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 released 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 business had revenue of $10.13 million during the quarter. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Insider Transactions at BETA Technologies

In other BETA Technologies news, Director Michael Robert Stone acquired 17,135 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $14.59 per share, with a total value of $249,999.65. Following the completion of the purchase, the director owned 1,767,049 shares of the company’s stock, valued at approximately $25,781,244.91. This represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kyle Clark sold 67,296 shares of the firm’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 transaction, the insider directly owned 748,915 shares in the company, valued at $13,570,339.80. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 138,928 shares of company stock valued at $2,517,375. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BETA. Sandia Investment Management LP bought a new position in shares of BETA Technologies during the fourth quarter valued at about $26,000. California State Teachers Retirement System bought a new position in shares of BETA Technologies during the first quarter valued at about $27,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies during the fourth quarter valued at about $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies during the fourth quarter valued at about $38,000. Finally, Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies during the fourth quarter valued at about $42,000.

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.