Insider Buying: BETA Technologies (NYSE:BETA) Director Acquires 17,135 Shares of Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Robert Stone purchased 17,135 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average price of $14.59 per share, for a total transaction of $249,999.65. Following the acquisition, the director owned 1,767,049 shares of the company’s stock, valued at $25,781,244.91. This trade represents a 0.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

BETA Technologies Stock Performance

Shares of NYSE:BETA traded up $1.02 during mid-day trading on Thursday, reaching $15.97. 1,441,347 shares of the company’s stock were exchanged, compared to its average volume of 1,467,889. The firm has a market cap of $3.55 billion and a price-to-earnings ratio of -1.29. The firm’s fifty day simple moving average is $16.29. 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 Inc has a twelve month low of $13.43 and a twelve month high of $39.50.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

A number of large investors have recently bought and sold shares of BETA. Sandia Investment Management LP acquired a new stake in BETA Technologies during the 4th quarter worth about $26,000. California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter valued at approximately $27,000. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the fourth quarter valued at approximately $35,000. Manchester Capital Management LLC acquired a new position in BETA Technologies in the fourth quarter valued at approximately $38,000. Finally, Wolff Wiese Magana LLC acquired a new position in BETA Technologies in the fourth quarter valued at approximately $42,000.

Analyst Ratings Changes

Several brokerages have recently weighed in on BETA. Jefferies Financial Group decreased their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. BTIG Research decreased their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Cantor Fitzgerald dropped their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Finally, Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. 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. According to data from MarketBeat.com, BETA Technologies has an average rating of “Moderate Buy” and an average target price of $31.11.

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.