BETA Technologies (NYSE:BETA) Shares Up 4.8% – Should You Buy?

BETA Technologies Inc (NYSE:BETA)’s share price shot up 4.8% on Thursday . The company traded as high as $21.10 and last traded at $21.12. Approximately 307,290 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,577,951 shares. The stock had previously closed at $20.15.

Analyst Ratings Changes

A number of research firms recently issued reports on BETA. Weiss Ratings lowered shares of BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, BTIG Research reiterated a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Performance

The firm’s 50 day moving average price is $20.82 and its 200-day moving average price is $18.25. The firm has a market cap of $4.78 billion and a price-to-earnings ratio of -1.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

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

Insider Buying and Selling

In related news, insider Kyle Clark sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the transaction, the insider directly owned 5,396,941 shares of the company’s stock, valued at $137,190,240.22. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 298,901 shares of company stock valued at $6,546,418 over the last three months. 24.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On BETA Technologies

A number of hedge funds have recently made changes to their positions in the business. Sandia Investment Management LP acquired a new stake in shares of BETA Technologies during the 4th quarter valued at about $26,000. California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter worth about $27,000. Allworth Financial LP raised its position in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,286 shares in the last quarter. IFP Advisors Inc lifted its stake in BETA Technologies by 555.6% during the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after purchasing an additional 1,528 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in BETA Technologies during the fourth quarter worth about $35,000.

BETA Technologies Company 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.