BETA Technologies Inc (NYSE:BETA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of BETA Technologies Inc (NYSE:BETA) have been given an average rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $31.1111.

A number of research firms have recently issued reports on BETA. Morgan Stanley dropped their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, May 13th. BTIG Research dropped their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Citigroup dropped their price target on BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Finally, Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th.

BETA Technologies Stock Performance

BETA stock opened at $15.95 on Friday. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The business’s fifty day simple moving average is $16.72 and its two-hundred day simple moving average is $20.13. BETA Technologies has a twelve month low of $13.43 and a twelve month high of $39.50. The firm has a market cap of $3.54 billion and a price-to-earnings ratio of -1.29.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that BETA Technologies will post -2.13 earnings per share for the current year.

Insider Buying and Selling at BETA Technologies

In related news, Director Michael Robert Stone acquired 17,135 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average price of $14.59 per share, with a total value of $249,999.65. Following the completion of the transaction, the director directly owned 1,767,049 shares in the company, valued at $25,781,244.91. This trade represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kyle Clark sold 67,296 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $1,219,403.52. Following the sale, the insider directly owned 748,915 shares in the company, valued at approximately $13,570,339.80. The trade was a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 183,928 shares of company stock worth $3,228,525. Insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in 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 purchasing an additional 685 shares in the last quarter. Sandia Investment Management LP bought a new stake in BETA Technologies during the fourth quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new stake in BETA Technologies during the fourth quarter valued at about $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies during the fourth quarter valued at about $38,000. Finally, Wolff Wiese Magana LLC bought a new stake in BETA Technologies during the fourth quarter valued at about $42,000.

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.