BETA Technologies (NYSE:BETA) Shares Gap Up - Here's Why

Key Points

• Shares of BETA Technologies gapped up, opening at $16.00 from a $15.43 close and last trading around $16.23 — roughly an 8.7% gain on about 312,181 shares traded.
• The stock carries a consensus rating of “Moderate Buy” with nine Buys, one Hold and one Sell, and an average price target of $34.00.
• Significant institutional interest emerged in Q4, with new large stakes purchased by General Electric (~$645M), TPG (~$462M) and Amazon (~$332M), among others.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $15.43, but opened at $16.00. BETA Technologies shares last traded at $16.2320, with a volume of 312,181 shares changing hands.

Analyst Upgrades and Downgrades

BETA has been the topic of a number of research analyst reports. Weiss Ratings initiated coverage on shares of BETA Technologies in a report on Friday, January 30th. They issued a "sell (d-)" rating on the stock. UBS Group set a $24.00 target price on shares of BETA Technologies and gave the stock a "buy" rating in a research note on Monday, February 9th. Jefferies Financial Group decreased their price target on shares of BETA Technologies from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. BTIG Research reiterated a "buy" rating and issued a $40.00 price target on shares of BETA Technologies in a report on Tuesday, March 10th. Finally, Morgan Stanley dropped their price objective on BETA Technologies from $34.00 to $33.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.00.

BETA Technologies Stock Up 8.7%

The stock's 50 day moving average is $17.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. The stock has a market cap of $3.71 billion and a P/E ratio of -1.41.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.47) by ($1.55). The firm had revenue of $11.13 million during the quarter, compared to analyst estimates of $6.69 million. The business's quarterly revenue was up 152.3% compared to the same quarter last year.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors have recently added to or reduced their stakes in BETA. General Electric Co acquired a new position in shares of BETA Technologies during the fourth quarter valued at about $644,962,000. TPG GP A LLC purchased a new stake in BETA Technologies during the 4th quarter worth approximately $462,515,000. Amazon Com Inc. acquired a new position in BETA Technologies during the 4th quarter valued at approximately $331,577,000. Vanguard Group Inc. acquired a new position in BETA Technologies during the 4th quarter valued at approximately $77,089,000. Finally, Norges Bank purchased a new position in shares of BETA Technologies in the fourth quarter worth $41,485,000.

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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