Insider Buying: BETA Technologies (NYSE:BETA) Director Acquires 13,125 Shares of Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Stone purchased 13,125 shares of BETA Technologies stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, with a total value of $251,868.75. Following the transaction, the director owned 1,792,994 shares of the company’s stock, valued at $34,407,554.86. This trade represents a 0.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Michael Robert Stone also recently made the following trade(s):

• On Tuesday, September 1st, Michael Stone acquired 12,820 shares of BETA Technologies stock. The shares were bought at an average price of $19.58 per share, with a total value of $251,015.60.

BETA Technologies Stock Performance

BETA stock traded up $0.38 during mid-day trading on Thursday, hitting $20.80. The company had a trading volume of 2,641,268 shares, compared to its average volume of 1,566,133. The firm has a market cap of $4.69 billion and a PE ratio of -1.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. The stock’s fifty day moving average price is $20.26 and its two-hundred day moving average price is $18.11.

BETA Technologies (NYSE:BETA) last released its 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 96.24%. The company had revenue of $14.66 million during the quarter. On average, analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BETA. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, August 12th. Weiss Ratings downgraded BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.11.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently modified their holdings of BETA. General Electric Co bought a new position in shares of BETA Technologies in the 4th quarter worth $644,962,000. TPG GP A LLC bought a new stake in shares of BETA Technologies during the 4th quarter worth $462,515,000. Amazon Com Inc. purchased a new position in BETA Technologies in the fourth quarter worth $331,577,000. Vanguard Group Inc. purchased a new position in BETA Technologies in the fourth quarter worth $77,089,000. Finally, Norges Bank bought a new position in BETA Technologies in the fourth quarter valued at $41,485,000.

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.