BETA Technologies (NYSE:BETA) Trading 6% Higher Following Insider Buying Activity

BETA Technologies Inc (NYSE:BETA) was up 6% on Friday following insider buying activity. The stock traded as high as $22.62 and last traded at $22.0540. Approximately 503,426 shares traded hands during trading, a decline of 68% from the average daily volume of 1,559,117 shares. The stock had previously closed at $20.81.

Specifically, Director Michael Stone bought 13,125 shares of the stock in a transaction on Wednesday, September 2nd. The stock was purchased at an average price of $19.19 per share, with a total value of $251,868.75. Following the completion of the purchase, the director owned 1,792,994 shares in the company, valued at $34,407,554.86. The trade was a 0.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Stone bought 12,820 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was bought at an average price of $19.58 per share, for a total transaction of $251,015.60. Following the transaction, the director directly owned 1,779,869 shares of the company’s stock, valued at approximately $34,849,835.02. This represents a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Analyst Upgrades and Downgrades

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

BETA Technologies Stock Performance

The company has a 50-day moving average of $20.36 and a 200-day moving average of $18.14. The company has a market cap of $4.97 billion and a PE ratio of -1.69. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). 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 $14.66 million for the quarter. As a group, analysts anticipate that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Institutional Investors Weigh In On BETA Technologies

A number of hedge funds have recently made changes to their positions in BETA. Vanguard Group Inc. purchased a new position in shares of BETA Technologies during the 4th quarter valued at $77,089,000. UBS Group AG purchased a new position in BETA Technologies during the fourth quarter valued at approximately $5,357,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in BETA Technologies during the 4th quarter worth approximately $478,000. General Electric Co bought a new stake in BETA Technologies during the 4th quarter worth approximately $644,962,000. Finally, Kingdom Financial Group LLC. purchased a new stake in BETA Technologies in the 4th quarter worth approximately $297,000.

About BETA Technologies

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.