BETA Technologies (NYSE:BETA) Trading 6.8% Higher – What’s Next?

BETA Technologies Inc (NYSE:BETA) shot up 6.8% during mid-day trading on Monday . The stock traded as high as $24.74 and last traded at $25.1180. Approximately 204,988 shares were traded during trading, a decline of 86% from the average daily volume of 1,466,829 shares. The stock had previously closed at $23.51.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BETA shares. Citigroup dropped their target price on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. Weiss Ratings raised BETA Technologies from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. BTIG Research lowered their price objective 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. Cantor Fitzgerald dropped their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, May 13th. Nine investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Up 1.1%

The company has a market capitalization of $5.28 billion and a P/E ratio of -1.92. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The company has a 50 day moving average of $17.82 and a 200-day moving average of $17.82.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. BETA Technologies’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.17 EPS for the current year.

Insider Buying and Selling

In related news, insider Kyle Clark sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $17.41, for a total value of $261,150.00. Following the completion of the sale, the insider owned 5,554,837 shares of the company’s stock, valued at $96,709,712.17. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Robert Stone purchased 17,135 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average cost of $14.59 per share, with a total value of $249,999.65. Following the purchase, the director directly 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 ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 105,000 shares of company stock valued at $1,703,100. 24.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors and hedge funds have recently modified their holdings of BETA. Parallel Advisors LLC increased its position in shares of BETA Technologies by 26.0% during 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. Sandia Investment Management LP purchased a new stake in BETA Technologies in the fourth quarter worth about $26,000. Rockefeller Capital Management L.P. purchased a new stake in BETA Technologies in the fourth quarter worth about $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies during the 4th quarter valued at approximately $38,000. Finally, California State Teachers Retirement System bought a new stake in BETA Technologies during the 1st quarter valued at approximately $27,000.

About BETA Technologies

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.