BETA Technologies (NYSE:BETA) Trading Up 6.8% - Here's Why

Key Points

• BETA Technologies shares rose 6.8% to approximately $25.12 in Monday trading, although volume was down 86% from the average session.
• Analysts remain generally positive: nine rate the stock Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and a $31.11 price target.
• The company beat quarterly EPS expectations, reporting a loss of $0.53 per share versus the anticipated $0.74 loss, while revenue reached $10.13 million, up 5.2% year over year.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s stock price was up 6.8% during trading on Monday . The stock traded as high as $24.74 and last traded at $25.1180. Approximately 204,988 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,466,829 shares. The stock had previously closed at $23.51.

Analysts Set New Price Targets

BETA has been the topic of a number of research analyst reports. Cantor Fitzgerald cut their target price on BETA Technologies from $38.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 13th. Needham & Company LLC reiterated a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Citigroup cut their price objective on BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Weiss Ratings raised BETA Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group lowered their target price 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. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.11.

BETA Technologies Price Performance

The firm has a market cap of $5.28 billion and a P/E ratio of -1.92. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The business's fifty day simple moving average is $17.82 and its 200-day simple moving average is $17.82.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $10.13 million for the quarter. The business's revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that BETA Technologies Inc will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling

In other BETA Technologies news, Director Michael Robert Stone acquired 17,135 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $14.59 per share, with a total value of $249,999.65. Following the completion of the acquisition, the director owned 1,767,049 shares of the company's stock, valued at $25,781,244.91. This trade represents a 0.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $17.41, for a total value of $261,150.00. Following the sale, the insider directly owned 5,554,837 shares of the company's stock, valued at approximately $96,709,712.17. This trade represents a 0.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 105,000 shares of company stock valued at $1,703,100 over the last 90 days. 24.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On BETA Technologies

Large investors have recently modified their holdings of the company. Sandia Investment Management LP purchased a new stake in BETA Technologies in the fourth quarter worth approximately $26,000. California State Teachers Retirement System bought a new stake in shares of BETA Technologies in the 1st quarter worth approximately $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC purchased a new stake in shares of BETA Technologies in the 4th quarter valued at $38,000. Finally, Parallel Advisors LLC grew its holdings in shares of BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company's stock valued at $49,000 after purchasing an additional 685 shares during the last quarter.

BETA Technologies Company Profile

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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