Seven Grand Managers LLC acquired a new position in BETA Technologies Inc (NYSE:BETA – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 298,557 shares of the company’s stock, valued at approximately $8,422,000.
Several other large investors also recently added to or reduced their stakes in the company. General Electric Co purchased a new stake in BETA Technologies in the 4th quarter worth about $644,962,000. Vanguard Group Inc. purchased a new stake in BETA Technologies in the 4th quarter worth about $77,089,000. Liberty Street Advisors Inc. purchased a new stake in BETA Technologies in the 4th quarter worth about $28,187,000. Pictet Asset Management Holding SA purchased a new stake in BETA Technologies in the 4th quarter worth about $10,896,000. Finally, Geode Capital Management LLC purchased a new stake in BETA Technologies in the 4th quarter worth about $9,340,000.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on BETA shares. The Goldman Sachs Group decreased their price objective on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. Citigroup decreased their price objective on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. UBS Group set a $24.00 price objective on BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Cantor Fitzgerald decreased their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, BETA Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.
BETA Technologies Stock Up 0.1%
Shares of NYSE BETA opened at $16.87 on Thursday. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The business has a 50-day moving average of $16.16. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.75 billion and a P/E ratio of -1.36.
BETA Technologies (NYSE:BETA – Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current year.
Insider Activity
In other news, CTO David Lawrence Churchill sold 18,981 shares of BETA Technologies stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $343,935.72. Following the completion of the sale, the chief technology officer owned 552,647 shares in the company, valued at approximately $10,013,963.64. This trade represents a 3.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 4,965 shares of BETA Technologies stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $89,965.80. Following the sale, the insider owned 49,746 shares of the company’s stock, valued at approximately $901,397.52. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 138,928 shares of company stock worth $2,517,375. Company 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.
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