BETA Technologies (NYSE:BETA) Trading Up 7.1% - Should You Buy?

Key Points

• BETA Technologies shares rose 7.1% on Monday, trading as high as $18.68 and last around $19.03, though volume was well below average.
• Analyst sentiment remains largely positive: nine analysts rate the stock a Buy, with a consensus Moderate Buy rating and an average target price of $31.11, even as several firms trimmed their targets.
• The company posted a smaller-than-expected quarterly loss, with EPS of -$0.53 vs. -$0.74 expected, and revenue grew 5.2% year over year to $10.13 million.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s share price traded up 7.1% on Monday . The company traded as high as $18.68 and last traded at $19.0290. 374,495 shares changed hands during trading, a decline of 74% from the average daily volume of 1,468,086 shares. The stock had previously closed at $17.76.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BETA shares. The Goldman Sachs Group dropped their target price on shares of BETA Technologies from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Needham & Company LLC restated a "buy" rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Citigroup cut their target price 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. Cantor Fitzgerald decreased their price target on shares of BETA Technologies from $38.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Finally, 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 note on Wednesday, May 20th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.11.

BETA Technologies Price Performance

The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.24 billion and a P/E ratio of -1.54. The firm has a 50 day moving average price of $16.97 and a 200 day moving average price of $18.71.

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

Insiders Place Their Bets

In related news, CFO Herman Cueto sold 18,586 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $336,778.32. Following the completion of the sale, the chief financial officer owned 90,465 shares in the company, valued at approximately $1,639,225.80. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction that occurred on Wednesday, July 1st. The shares were 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 in the company, valued at $96,709,712.17. This trade represents a 0.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 243,928 shares of company stock worth $4,220,475. 24.47% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Sandia Investment Management LP purchased a new position in shares of BETA Technologies in the fourth quarter worth $26,000. California State Teachers Retirement System purchased a new position in BETA Technologies during the first quarter valued at $27,000. Rockefeller Capital Management L.P. purchased a new position in BETA Technologies during the fourth quarter valued at $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies in the 4th quarter valued at $38,000. Finally, Wolff Wiese Magana LLC purchased a new stake in BETA Technologies in the 4th quarter worth $42,000.

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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