Amazon Com Inc. Takes Position in BETA Technologies Inc $BETA

Amazon Com Inc. bought a new stake in BETA Technologies Inc (NYSE:BETA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 11,753,896 shares of the company’s stock, valued at approximately $331,577,000. BETA Technologies comprises 9.4% of Amazon Com Inc.’s investment portfolio, making the stock its 2nd biggest holding. Amazon Com Inc. owned approximately 0.05% of BETA Technologies at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BETA. Wolff Wiese Magana LLC purchased a new stake in BETA Technologies during the 4th quarter worth $42,000. Clean Yield Group purchased a new stake in BETA Technologies during the 4th quarter worth $235,000. Kingdom Financial Group LLC. purchased a new stake in BETA Technologies during the 4th quarter worth $297,000. Stratos Wealth Partners LTD. purchased a new stake in BETA Technologies during the 4th quarter worth $360,000. Finally, Renaissance Capital LLC purchased a new stake in BETA Technologies during the 4th quarter worth $450,000.

BETA Technologies Trading Down 1.8%

NYSE BETA opened at $18.23 on Thursday. BETA Technologies Inc has a one year low of $13.43 and a one year high of $39.50. The company has a 50-day simple moving average of $16.46 and a 200-day simple moving average of $21.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The firm has a market capitalization of $4.05 billion and a PE ratio of -1.47.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BETA shares. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Jefferies Financial Group dropped their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. BTIG Research decreased their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Morgan Stanley decreased their price objective on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Insider Activity

In other BETA Technologies news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $336,778.32. Following the completion of the transaction, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at $1,639,225.80. The trade was a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone bought 17,135 shares of BETA Technologies stock in a transaction on Tuesday, May 19th. The shares were purchased at an average cost of $14.59 per share, with a total value of $249,999.65. Following the completion of the purchase, 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 disclosure for this purchase is available in the SEC filing. Insiders sold a total of 138,928 shares of company stock worth $2,517,375 over the last three months. Insiders own 24.47% of the company’s stock.

BETA Technologies 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.