Inspire Investing LLC Acquires 28,128 Shares of BETA Technologies Inc $BETA

Inspire Investing LLC bought a new stake in shares of BETA Technologies Inc (NYSE:BETA) in the third quarter, HoldingsChannel reports. The institutional investor bought 28,128 shares of the company’s stock, valued at approximately $622,000.

Other large investors also recently modified their holdings of the company. Masters Capital Management LLC acquired a new position in BETA Technologies in the first quarter valued at about $10,290,000. Bank of America Corp DE raised its position 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 buying an additional 187,807 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies during the 2nd quarter worth approximately $2,877,000. Corient Private Wealth LP lifted its holdings in shares of BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after acquiring an additional 81,150 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of BETA Technologies during the 3rd quarter worth approximately $2,905,000.

Insider Buying and Selling

In related news, insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction on Friday, October 30th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the sale, the insider directly owned 4,965,936 shares in the company, valued at approximately $98,921,445.12. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 353,901 shares of company stock worth $8,097,418 in the last 90 days. Company insiders own 24.47% of the company’s stock.

Analyst Ratings Changes

BETA has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Barclays initiated coverage on BETA Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $35.00 target price on the stock. Finally, Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and an average price target of $31.50.

BETA Technologies Stock Down 2.6%

BETA opened at $20.04 on Friday. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The firm has a market capitalization of $4.52 billion and a P/E ratio of -1.54. The company’s 50-day moving average is $20.85 and its 200 day moving average is $19.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data 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). The firm had revenue of $14.66 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. Research analysts expect that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

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.