BETA Technologies (NYSE:BETA) Stock Price Down 6.5% – Should You Sell?

BETA Technologies Inc (NYSE:BETA)’s stock price was down 6.5% on Friday . The company traded as low as $23.81 and last traded at $24.5230. Approximately 538,915 shares were traded during trading, a decline of 64% from the average daily volume of 1,493,963 shares. The stock had previously closed at $26.24.

Wall Street Analysts Forecast Growth

BETA has been the subject of several research reports. BTIG Research reissued a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research report on Thursday. Citigroup restated a “buy” rating on shares of BETA Technologies in a report on Thursday. The Goldman Sachs Group dropped their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a report on Wednesday. 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Performance

The company’s fifty day moving average price is $18.34 and its 200 day moving average price is $17.78. The company has a market cap of $5.52 billion and a PE ratio of -1.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results 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). BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 131.90%. The firm had revenue of $14.66 million for the quarter. On average, equities research analysts predict that BETA Technologies Inc will post -2.17 earnings per share for the current year.

Insider Buying and Selling

In other BETA Technologies news, insider Kyle Clark sold 17,005 shares of BETA Technologies stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $24.46, for a total transaction of $415,942.30. Following the transaction, the insider owned 5,441,941 shares of the company’s stock, valued at $133,109,876.86. This trade represents a 0.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 152,896 shares of company stock valued at $2,852,990. Company insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

A number of institutional investors and hedge funds have recently modified their holdings of BETA. Massachusetts Financial Services Co. MA purchased a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $6,349,000. Clean Yield Group purchased a new position in BETA Technologies in the fourth quarter worth $235,000. Vanguard Group Inc. bought a new position in BETA Technologies in the 4th quarter valued at $77,089,000. UBS Group AG purchased a new stake in shares of BETA Technologies during the 4th quarter valued at $5,357,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of BETA Technologies during the 4th quarter valued at $10,896,000.

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.