BETA Technologies (NYSE:BETA) Shares Up 7.6% - Still a Buy?

Key Points

• BETA Technologies shares rose 7.6% to approximately $18.91, with trading volume below the stock’s average session volume.
• Analysts maintain a “Moderate Buy” consensus, with nine Buy ratings, one Hold, and one Sell; the average price target is $31.11, despite several recent target reductions.
• The company reported a quarterly loss of $0.53 per share, beating the expected $0.74 loss, while revenue increased 5.2% year over year to $10.13 million. Major investors including GE, TPG, Amazon, Vanguard, and Norges Bank recently established positions.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s stock price rose 7.6% on Friday . The stock traded as high as $18.95 and last traded at $18.9050. Approximately 703,650 shares were traded during trading, a decline of 52% from the average session volume of 1,468,948 shares. The stock had previously closed at $17.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BETA shares. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. The Goldman Sachs Group cut their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, April 20th. BTIG Research decreased their price target on BETA Technologies from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. Cantor Fitzgerald lowered their price target on shares of BETA Technologies from $38.00 to $31.00 and set an "overweight" rating for the company in a report on Wednesday, May 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.11.

BETA Technologies Stock Up 7.5%

The firm's fifty day moving average price is $17.32 and its two-hundred day moving average price is $18.07. The stock has a market cap of $4.20 billion and a price-to-earnings ratio of -1.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company's revenue was up 5.2% compared to the same quarter last year. Sell-side analysts forecast that BETA Technologies Inc will post -2.17 earnings per share for the current fiscal year.

Insider Activity at BETA Technologies

In related news, Director Michael Robert Stone acquired 17,135 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sean Donovan sold 19,008 shares of BETA Technologies stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $344,424.96. Following the sale, the chief operating officer directly owned 176,195 shares of the company's stock, valued at $3,192,653.40. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 243,928 shares of company stock worth $4,220,475 in the last three months. Corporate insiders own 24.47% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BETA. General Electric Co purchased a new stake in shares of BETA Technologies in the 4th quarter worth about $644,962,000. TPG GP A LLC purchased a new position in shares of BETA Technologies during the fourth quarter valued at about $462,515,000. Amazon Com Inc. bought a new position in BETA Technologies in the fourth quarter worth about $331,577,000. Vanguard Group Inc. bought a new position in BETA Technologies in the fourth quarter worth about $77,089,000. Finally, Norges Bank purchased a new stake in BETA Technologies in the fourth quarter worth about $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.