Sean Donovan Sells 19,008 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 19,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at approximately $3,192,653.40. The trade was a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BETA Technologies Stock Down 0.9%

Shares of NYSE:BETA traded down $0.17 during trading on Monday, reaching $18.52. The stock had a trading volume of 2,196,627 shares, compared to its average volume of 1,428,809. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The stock has a market capitalization of $4.10 billion and a price-to-earnings ratio of -1.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The firm’s fifty day moving average is $16.80.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The firm had revenue of $11.13 million for the quarter, compared to the consensus estimate of $6.69 million. The business’s revenue for the quarter was up 152.3% on a year-over-year basis. On average, analysts forecast that BETA Technologies Inc will post -2.2 EPS for the current year.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BETA. General Electric Co acquired a new stake in BETA Technologies during the fourth quarter worth $644,962,000. TPG GP A LLC acquired a new stake in BETA Technologies during the fourth quarter worth $462,515,000. Amazon Com Inc. acquired a new stake in BETA Technologies during the fourth quarter worth $331,577,000. Vanguard Group Inc. acquired a new stake in BETA Technologies during the fourth quarter worth $77,089,000. Finally, Norges Bank acquired a new stake in BETA Technologies during the fourth quarter worth $41,485,000.

Analysts Set New Price Targets

BETA has been the topic of a number of recent analyst reports. Weiss Ratings initiated coverage on shares of BETA Technologies in a research report on Friday, January 30th. They issued a “sell (d-)” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Monday, March 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price target on shares of BETA Technologies in a research report on Tuesday, March 10th. Citigroup dropped their price target on shares of BETA Technologies from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Nine investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

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.