BETA Technologies (NYSE:BETA) Stock Price Down 4.8% – Here’s What Happened

BETA Technologies Inc (NYSE:BETA) shares traded down 4.8% during mid-day trading on Tuesday . The company traded as low as $22.74 and last traded at $22.7050. 412,940 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,534,864 shares. The stock had previously closed at $23.84.

Wall Street Analysts Forecast Growth

BETA has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings cut BETA Technologies from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, August 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Down 6.2%

The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. The firm has a market cap of $5.04 billion and a PE ratio of -1.72. The business has a 50-day moving average price of $19.55 and a two-hundred day moving average price of $17.93.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share 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 net margin of 1,913.91% and a negative return on equity of 96.24%. On average, equities research analysts expect that BETA Technologies Inc will post -2.22 EPS for the current year.

Insider Activity

In other news, insider Kyle Clark sold 30,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the transaction, the insider owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 298,901 shares of company stock worth $6,546,418. Corporate insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sandia Investment Management LP purchased a new position in BETA Technologies in the fourth quarter valued at approximately $26,000. California State Teachers Retirement System acquired a new position in shares of BETA Technologies in the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC purchased a new position in shares of BETA Technologies in the 4th quarter valued at $38,000. Finally, Parallel Advisors LLC raised its stake in BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter.

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.