BETA Technologies Sees Unusually High Options Volume (NYSE:BETA)

BETA Technologies Inc (NYSE:BETA) saw some unusual options trading on Tuesday. Stock investors bought 5,304 call options on the stock. This represents an increase of 269% compared to the typical volume of 1,437 call options.

BETA Technologies Price Performance

NYSE BETA traded up $2.82 during trading hours on Tuesday, hitting $23.20. The company had a trading volume of 2,090,296 shares, compared to its average volume of 1,802,229. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. The firm has a 50 day simple moving average of $20.76 and a 200 day simple moving average of $19.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The firm has a market capitalization of $5.23 billion and a price-to-earnings ratio of -1.80.

BETA Technologies (NYSE:BETA) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The business had revenue of $17.67 million for the quarter. During the same quarter in the prior year, the company earned ($9.83) earnings per share. BETA Technologies’s revenue was up 98.6% compared to the same quarter last year. Equities research analysts expect that BETA Technologies will post -2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BETA shares. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, October 21st. Barclays assumed coverage on shares of BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 price objective for the company. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a report on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Insider Activity at BETA Technologies

In related news, insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction on Friday, October 30th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the sale, the insider owned 4,965,936 shares of the company’s stock, valued at approximately $98,921,445.12. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 353,901 shares of company stock valued at $8,097,418. Company insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new position in BETA Technologies during the 3rd quarter worth approximately $328,000. State of Wyoming lifted its position in BETA Technologies by 33.5% in the third quarter. State of Wyoming now owns 21,944 shares of the company’s stock valued at $485,000 after purchasing an additional 5,507 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of BETA Technologies by 433.0% during the third quarter. Sterling Capital Management LLC now owns 2,761 shares of the company’s stock valued at $61,000 after purchasing an additional 2,243 shares during the period. Inspire Investing LLC purchased a new stake in shares of BETA Technologies during the third quarter valued at approximately $622,000. Finally, Hanson & Doremus Investment Management purchased a new position in shares of BETA Technologies in the third quarter worth $374,000.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.