BETA Technologies Target of Unusually High Options Trading (NYSE:BETA)

BETA Technologies Inc (NYSE:BETAGet Free Report) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 3,846 call options on the stock. This is an increase of approximately 278% compared to the typical daily volume of 1,018 call options.

Analyst Ratings Changes

Several research firms have recently issued reports on BETA. The Goldman Sachs Group decreased their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, May 13th. Citigroup reduced their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Finally, Cantor Fitzgerald reduced their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BETA Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $31.11.

View Our Latest Stock Analysis on BETA

BETA Technologies Stock Performance

Shares of BETA traded up $1.90 during mid-day trading on Tuesday, hitting $21.29. 927,677 shares of the company’s stock were exchanged, compared to its average volume of 1,464,596. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. BETA Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The business’s 50 day moving average is $17.42 and its two-hundred day moving average is $17.96. The firm has a market capitalization of $4.73 billion and a P/E ratio of -1.71.

BETA Technologies (NYSE:BETAGet Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that BETA Technologies will post -2.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Robert Stone bought 17,135 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the completion of the acquisition, the director owned 1,767,049 shares in the company, valued at approximately $25,781,244.91. This trade represents a 0.98% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO David Lawrence Churchill sold 18,981 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $343,935.72. Following the transaction, the chief technology officer directly owned 552,647 shares of the company’s stock, valued at approximately $10,013,963.64. This represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 243,928 shares of company stock valued at $4,220,475. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sandia Investment Management LP purchased a new position in shares of BETA Technologies in the 4th quarter valued at about $26,000. California State Teachers Retirement System purchased a new position in shares of BETA Technologies in the first quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new stake in BETA Technologies in the 4th quarter valued at about $35,000. Manchester Capital Management LLC acquired a new position in BETA Technologies during the fourth quarter worth about $38,000. Finally, Parallel Advisors LLC increased its stake in shares of BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after purchasing an additional 685 shares in the last quarter.

About BETA Technologies

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for BETA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BETA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.