BETA Technologies (NYSE:BETA) Director Michael Robert Stone Buys 17,135 Shares of Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Robert Stone bought 17,135 shares of BETA Technologies stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the completion of the acquisition, the director directly owned 1,767,049 shares of the company’s stock, valued at approximately $25,781,244.91. The trade was a 0.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

BETA Technologies Trading Up 6.8%

Shares of BETA Technologies stock opened at $15.97 on Friday. The company has a market capitalization of $3.55 billion and a price-to-earnings ratio of -1.29. The company’s 50 day moving average price is $16.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50.

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

Wall Street Analysts Forecast Growth

BETA has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Cantor Fitzgerald dropped their target price on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley cut their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. BTIG Research cut their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their target price on BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.11.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. General Electric Co purchased a new position in BETA Technologies in the 4th quarter worth approximately $644,962,000. Massachusetts Financial Services Co. MA acquired a new position in shares of BETA Technologies in the 4th quarter valued at $6,349,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies during the fourth quarter valued at about $77,089,000. Liberty Street Advisors Inc. purchased a new position in shares of BETA Technologies during the 4th quarter worth approximately $28,187,000. Finally, Pictet Asset Management Holding SA acquired a new stake in shares of BETA Technologies in the fourth 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.