Squarepoint Ops LLC Purchases Shares of 122,080 BETA Technologies Inc $BETA

Squarepoint Ops LLC purchased a new position in shares of BETA Technologies Inc (NYSE:BETA) during the second quarter, Holdings Channel.com reports. The firm purchased 122,080 shares of the company’s stock, valued at approximately $2,045,000.

Other large investors also recently modified their holdings of the company. California State Teachers Retirement System acquired a new stake in BETA Technologies in the first quarter worth $27,000. Allworth Financial LP boosted its holdings in BETA Technologies by 257.2% during the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after acquiring an additional 1,286 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in BETA Technologies in the 4th quarter worth about $35,000. Manchester Capital Management LLC purchased a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $38,000. Finally, Parallel Advisors LLC increased its position in shares of BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after purchasing an additional 685 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BETA shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. BTIG Research restated a “buy” rating and set a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Weiss Ratings cut shares of BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. Nine investment 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

Insider Buying and Selling at BETA Technologies

In related news, insider Kyle Clark sold 23,205 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $25.22, for a total value of $585,230.10. Following the transaction, the insider directly owned 5,235,936 shares of the company’s stock, valued at approximately $132,050,305.92. This trade represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Stone bought 13,125 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the transaction, the director directly 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. Insiders sold a total of 283,901 shares of company stock valued at $6,308,068 over the last 90 days. 24.47% of the stock is currently owned by company insiders.

BETA Technologies Price Performance

NYSE BETA opened at $20.63 on Tuesday. The firm’s 50-day simple moving average is $20.86 and its two-hundred day simple moving average is $18.26. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a market cap of $4.65 billion and a PE ratio of -1.58.

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

BETA Technologies 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.