BETA Technologies Inc (NYSE:BETA – Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 5,304 call options on the stock. This is an increase of 269% compared to the average daily volume of 1,437 call options.
Insider Buying and Selling at BETA Technologies
In other BETA Technologies news, insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the insider directly owned 4,965,936 shares in the company, valued at approximately $98,921,445.12. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 353,901 shares of company stock worth $8,097,418 in the last ninety days. Insiders own 24.47% of the company’s stock.
Institutional Investors Weigh In On BETA Technologies
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Masters Capital Management LLC bought a new stake in shares of BETA Technologies during the 1st quarter valued at about $10,290,000. Bank of America Corp DE increased its holdings in BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after purchasing an additional 187,807 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in BETA Technologies in the second quarter valued at approximately $2,877,000. Corient Private Wealth LP boosted its holdings in shares of BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after buying an additional 81,150 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of BETA Technologies during the 3rd quarter worth approximately $2,905,000.
Analysts Set New Price Targets
Several equities research analysts recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a research note on Monday, October 5th. Barclays initiated coverage on BETA Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, October 21st. Ten 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.50.
Read Our Latest Analysis on BETA
BETA Technologies Price Performance
Shares of BETA traded up $2.82 during trading hours on Tuesday, hitting $23.20. 2,090,296 shares of the company were exchanged, compared to its average volume of 1,802,229. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. The company has a market cap of $5.23 billion and a price-to-earnings ratio of -1.80. The firm’s fifty day moving average is $20.76 and its 200 day moving average is $19.10. BETA Technologies has a fifty-two week low of $13.43 and a fifty-two week high of $39.50.
BETA Technologies (NYSE:BETA – Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The firm had revenue of $17.67 million during the quarter. During the same quarter in the previous year, the company earned ($9.83) earnings per share. The firm’s revenue for the quarter was up 98.6% on a year-over-year basis. On average, equities analysts anticipate that BETA Technologies will post -2.25 earnings per share for the current fiscal year.
About BETA Technologies
BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.
BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.
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