BETA Technologies Inc (NYSE:BETA – Get Free Report)’s stock price was up 10.1% during trading on Friday. The company traded as high as $26.29 and last traded at $26.4740. Approximately 446,422 shares were traded during trading, a decline of 75% from the average daily volume of 1,814,571 shares. The stock had previously closed at $24.05.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on BETA shares. BTIG Research reissued a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a report on Friday. Barclays initiated coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 price objective for the company. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Finally, Needham & Company LLC reduced their target price on BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BETA Technologies has an average rating of “Moderate Buy” and a consensus price target of $30.90.
Check Out Our Latest Research Report on BETA
BETA Technologies Price Performance
The company has a quick ratio of 14.47, a current ratio of 11.51 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average is $20.86 and its 200-day moving average is $19.05. The company has a market cap of $6.05 billion and a PE ratio of -7.24.
BETA Technologies (NYSE:BETA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The business had revenue of $17.67 million during the quarter. During the same quarter last year, the business earned ($9.83) earnings per share. The business’s quarterly revenue was up 98.6% on a year-over-year basis. On average, equities analysts anticipate that BETA Technologies Inc will post -2.25 EPS for the current year.
Insider Buying and Selling at BETA Technologies
In related news, insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $24.90, for a total value of $249,000.00. Following the sale, the insider directly owned 4,935,936 shares of the company’s stock, valued at $122,904,806.40. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 358,901 shares of company stock worth $8,204,568 in the last 90 days. Insiders own 24.47% of the company’s stock.
Institutional Trading of BETA Technologies
A number of hedge funds have recently modified their holdings of BETA. Masters Capital Management LLC bought a new position in BETA Technologies during the 1st quarter valued at approximately $10,290,000. Bank of America Corp DE raised its stake in BETA Technologies by 117.2% during the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after buying an additional 187,807 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC purchased a new position in BETA Technologies during the third quarter valued at $2,905,000. Bank of New York Mellon Corp bought a new stake in BETA Technologies in the second quarter worth $2,877,000. Finally, Corient Private Wealth LP boosted its holdings in BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after acquiring an additional 81,150 shares in the last quarter.
BETA Technologies Company Profile
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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