BETA Technologies Inc (NYSE:BETA – Get Free Report)’s share price traded up 6% on Friday after an insider bought additional shares in the company. The stock traded as high as $22.62 and last traded at $22.0540. Approximately 503,426 shares were traded during mid-day 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 acquired 13,125 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the acquisition, the director owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. This represents a 0.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Stone bought 12,820 shares of the firm’s stock in a transaction on Tuesday, September 1st. The shares were bought at an average cost of $19.58 per share, with a total value 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 trade represents a 0.73% increase in their ownership of the stock. The SEC filing for this purchase provides additional information.
Wall Street Analyst Weigh In
BETA has been the subject of several research analyst reports. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research reiterated a “buy” rating and set a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings lowered BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, August 12th. 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.11.
BETA Technologies Stock Up 6.0%
The company has a market capitalization of $4.97 billion and a price-to-earnings ratio of -1.69. The firm has a 50-day moving average price of $20.36 and a two-hundred day moving average price of $18.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.
BETA Technologies (NYSE:BETA – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The company 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, sell-side analysts anticipate that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.
Hedge Funds Weigh In On BETA Technologies
Institutional investors and hedge funds have recently made changes to their positions in the company. Sandia Investment Management LP bought a new stake in BETA Technologies in the 4th quarter valued at about $26,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies during the fourth quarter worth approximately $35,000. Manchester Capital Management LLC acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $38,000. California State Teachers Retirement System acquired a new stake in shares of BETA Technologies in the first quarter valued at approximately $27,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $70,000.
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.
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