Masters Capital Management LLC bought a new stake in shares of BETA Technologies Inc (NYSE:BETA – Free Report) during the 1st quarter, HoldingsChannel reports. The firm bought 700,000 shares of the company’s stock, valued at approximately $10,290,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC increased its holdings in shares of BETA Technologies by 26.0% in 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. Sandia Investment Management LP bought a new position in shares of BETA Technologies during the fourth quarter valued at $26,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $35,000. Manchester Capital Management LLC purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $38,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of BETA Technologies during the fourth quarter valued at $70,000.
Insider Buying and Selling at BETA Technologies
In related news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $336,778.32. Following the completion of the sale, the chief financial officer directly owned 90,465 shares in the company, valued at approximately $1,639,225.80. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $17.41, for a total transaction of $261,150.00. Following the sale, the insider owned 5,554,837 shares of the company’s stock, valued at $96,709,712.17. This trade represents a 0.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 243,928 shares of company stock worth $4,220,475 over the last 90 days. 24.47% of the stock is owned by company insiders.
BETA Technologies Stock Down 0.2%
BETA Technologies (NYSE:BETA – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The business’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that BETA Technologies Inc will post -2.17 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on BETA. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. BTIG Research decreased their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Finally, Cantor Fitzgerald dropped their target price on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.11.
Read Our Latest Analysis on BETA
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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