298,557 Shares in BETA Technologies Inc $BETA Bought by Seven Grand Managers LLC

Seven Grand Managers LLC bought a new position in BETA Technologies Inc (NYSE:BETA) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 298,557 shares of the company’s stock, valued at approximately $8,422,000. Seven Grand Managers LLC owned approximately 0.14% of BETA Technologies as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. General Electric Co bought a new position in shares of BETA Technologies in the 4th quarter worth $644,962,000. Vanguard Group Inc. purchased a new stake in BETA Technologies in the 4th quarter valued at $77,089,000. Liberty Street Advisors Inc. purchased a new stake in BETA Technologies in the 4th quarter valued at $28,187,000. Pictet Asset Management Holding SA purchased a new stake in BETA Technologies in the 4th quarter valued at $10,896,000. Finally, Geode Capital Management LLC purchased a new stake in BETA Technologies in the 4th quarter valued at $9,340,000.

Insider Activity

In other news, insider Kyle Clark sold 4,965 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $89,965.80. Following the completion of the sale, the insider directly owned 49,746 shares of the company’s stock, valued at $901,397.52. This trade represents a 9.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone bought 17,135 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were acquired at an average cost of $14.59 per share, with a total value of $249,999.65. Following the completion of the transaction, the director owned 1,767,049 shares in the company, valued at approximately $25,781,244.91. The trade was a 0.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 138,928 shares of company stock worth $2,517,375. 24.47% of the stock is owned by insiders.

Analyst Ratings Changes

BETA has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. BTIG Research lowered their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Morgan Stanley lowered their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group lowered their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Nine equities 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Price Performance

Shares of BETA Technologies stock opened at $16.87 on Thursday. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The stock has a market cap of $3.75 billion and a price-to-earnings ratio of -1.36. The company’s fifty day simple moving average is $16.16. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

BETA Technologies 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.