BETA Technologies (NYSE:BETA) Shares Up 6.4% - Still a Buy?

Key Points

• BETA Technologies shares rose 6.4% in midday trading, reaching as high as $17.68 after closing at $16.73, though volume was well below average.
• Analysts remain broadly positive despite some target cuts: nine analysts rate the stock a Buy, with an average price target of $31.11 and a consensus rating of Moderate Buy.
• The company beat quarterly EPS estimates with a loss of $0.53 per share versus expectations for a $0.74 loss, and revenue rose 5.2% year over year to $10.13 million.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s share price was up 6.4% during mid-day trading on Friday . The stock traded as high as $17.68 and last traded at $17.8050. Approximately 530,537 shares changed hands during trading, a decline of 64% from the average session volume of 1,486,014 shares. The stock had previously closed at $16.73.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on BETA Technologies from $38.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a report on Wednesday, May 13th. BTIG Research dropped their price target on shares of BETA Technologies from $40.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings upgraded shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. Finally, Citigroup reduced their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a research report on Monday, May 18th. Nine equities research 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $31.11.

BETA Technologies Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The company has a market cap of $3.93 billion and a PE ratio of -1.44. The company's 50 day moving average price is $16.87 and its 200-day moving average price is $19.23.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company's quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that BETA Technologies Inc will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling at BETA Technologies

In related news, Director Michael Robert Stone purchased 17,135 shares of BETA Technologies stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the completion of the transaction, the director owned 1,767,049 shares in the company, valued at $25,781,244.91. This trade represents a 0.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Herman Cueto sold 18,586 shares of the business's stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $336,778.32. Following the sale, the chief financial officer 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. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 243,928 shares of company stock valued at $4,220,475. 24.47% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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