BETA Technologies (NYSE:BETA) Stock Price Up 4.8% – Here’s Why

BETA Technologies Inc (NYSE:BETA) shot up 4.8% during mid-day trading on Thursday . The company traded as high as $21.10 and last traded at $21.12. 307,290 shares changed hands during trading, a decline of 81% from the average session volume of 1,577,951 shares. The stock had previously closed at $20.15.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BETA. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Weiss Ratings downgraded shares of BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. BTIG Research restated a “buy” rating and set a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Stock Performance

The stock has a 50-day moving average of $20.72 and a 200-day moving average of $18.22. The firm has a market cap of $4.58 billion and a price-to-earnings ratio of -1.56. 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 (NYSE:BETA) last released its quarterly 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). The firm had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. As a group, analysts anticipate that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other BETA Technologies news, Director Michael Stone bought 13,125 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was acquired at an average price of $19.19 per share, with a total value of $251,868.75. Following the completion of the transaction, the director owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. This trade represents a 0.74% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kyle Clark sold 23,205 shares of BETA Technologies stock in a transaction on Friday, August 21st. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10. Following the completion of the sale, the insider owned 5,235,936 shares in the company, valued at $132,050,305.92. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 298,901 shares of company stock worth $6,546,418. 24.47% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BETA Technologies

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

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.