BETA Technologies (NYSE:BETA) Shares Up 6.1% – Time to Buy?

BETA Technologies Inc (NYSE:BETA)’s share price rose 6.1% during trading on Wednesday. The company traded as high as $19.29 and last traded at $19.2660. Approximately 250,675 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,801,172 shares. The stock had previously closed at $18.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BETA shares. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Barclays assumed coverage on shares of BETA Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $35.00 target price for the company. BTIG Research restated a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

BETA Technologies Stock Up 5.8%

The business has a fifty day simple moving average of $21.71 and a 200 day simple moving average of $18.95. 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 firm has a market cap of $4.33 billion and a price-to-earnings ratio of -1.47.

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

Insiders Place Their Bets

In other news, insider Kyle Clark sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were 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. This represents a 0.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael Stone purchased 13,125 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average cost of $19.19 per share, for a total transaction of $251,868.75. Following the purchase, the director owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. The trade was a 0.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 303,901 shares of company stock worth $7,115,718 in the last three months. 24.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently bought and sold shares of the company. Hanson & Doremus Investment Management acquired a new stake in shares of BETA Technologies during the third quarter worth about $374,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in shares of BETA Technologies during the third quarter worth $2,905,000. Triumph Capital Management acquired a new stake in shares of BETA Technologies during the 3rd quarter worth about $308,000. Farther Finance Advisors LLC increased its stake in BETA Technologies by 275.0% in the third quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company’s stock valued at $102,000 after purchasing an additional 3,388 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of BETA Technologies in the 2nd quarter valued at $235,000.

About BETA Technologies

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.