BETA Technologies (NYSE:BETA) Releases Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• BETA Technologies reported a quarterly loss of $0.51 per share, beating analyst expectations by $0.03, while revenue reached $17.67 million—up 98.6% year over year.
• The stock opened at $22.68, with analysts maintaining a largely positive outlook: 10 Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and a $31.50 price target.
• The company remains financially unprofitable, posting a negative 1,913.91% net margin and 96.24% return on equity; insiders sold 353,901 shares worth $8.1 million in the latest quarter, despite one director purchasing shares.

BETA Technologies (NYSE:BETA - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03, Zacks reports. The firm had revenue of $17.67 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The business's quarterly revenue was up 98.6% compared to the same quarter last year. During the same period last year, the company earned ($9.83) EPS.

BETA Technologies Price Performance

BETA Technologies stock opened at $22.68 on Tuesday. The company has a market cap of $5.11 billion and a P/E ratio of -1.74. BETA Technologies has a one year low of $13.43 and a one year high of $39.50. The business has a fifty day moving average of $20.76 and a two-hundred day moving average of $19.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BETA. BTIG Research reissued a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Citigroup reissued a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, October 21st. Finally, Wall Street Zen upgraded shares of BETA Technologies from a "sell" rating to a "hold" rating in a research note on Sunday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

Insider Transactions at BETA Technologies

In other BETA Technologies news, insider Kyle Clark sold 30,000 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00. Following the transaction, the insider directly owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Stone bought 13,125 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $19.19 per share, with a total value of $251,868.75. Following the completion of the acquisition, the director owned 1,792,994 shares of the company's stock, valued at $34,407,554.86. This represents a 0.74% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 353,901 shares of company stock valued at $8,097,418 in the last quarter. Insiders own 24.47% of the company's stock.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA's aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.

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