Insider Selling: BETA Technologies (NYSE:BETA) CFO Sells 18,586 Shares of Stock

BETA Technologies Inc (NYSE:BETA) CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the transaction, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at approximately $1,639,225.80. The trade was a 17.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BETA Technologies Trading Down 0.9%

NYSE BETA traded down $0.17 during trading on Monday, hitting $18.52. 2,196,627 shares of the company’s stock were exchanged, compared to its average volume of 1,428,809. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. The stock has a market capitalization of $4.10 billion and a P/E ratio of -1.56. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The firm’s 50 day moving average price is $16.80.

BETA Technologies (NYSE:BETA) last issued its earnings results on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The business had revenue of $11.13 million during the quarter, compared to analysts’ expectations of $6.69 million. BETA Technologies’s quarterly revenue was up 152.3% on a year-over-year basis. Analysts forecast that BETA Technologies Inc will post -2.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BETA shares. The Goldman Sachs Group lowered their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and issued a $40.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Morgan Stanley lowered their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. Finally, UBS Group set a $24.00 price objective on BETA Technologies and gave the company a “buy” rating in a research note on Monday, February 9th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BETA. Parallel Advisors LLC increased its stake in shares of 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 buying an additional 685 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of BETA Technologies in the first quarter valued at about $257,000. Bank of New York Mellon Corp acquired a new position in shares of BETA Technologies in the first quarter worth approximately $1,162,000. Strs Ohio acquired a new position in shares of BETA Technologies in the first quarter worth approximately $85,000. Finally, Capricorn Fund Managers Ltd boosted its holdings in BETA Technologies by 318.5% in the first quarter. Capricorn Fund Managers Ltd now owns 83,696 shares of the company’s stock valued at $1,230,000 after acquiring an additional 63,696 shares during the last quarter.

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.