131,452 Shares in BETA Technologies Inc $BETA Purchased by Cliftonlarsonallen Wealth Advisors LLC

Key Points

• Cliftonlarsonallen Wealth Advisors bought 131,452 BETA Technologies shares worth approximately $2.9 million, joining several other institutional investors that recently initiated or increased positions.
• BETA shares opened at $17.66, near the lower end of their 12-month range, while the company reported a quarterly loss of $0.64 per share and $14.66 million in revenue.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $31.50, although insiders have sold $6.75 million of stock over the past 90 days.

Cliftonlarsonallen Wealth Advisors LLC purchased a new position in BETA Technologies Inc (NYSE:BETA - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 131,452 shares of the company's stock, valued at approximately $2,905,000. Cliftonlarsonallen Wealth Advisors LLC owned about 0.06% of BETA Technologies at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in BETA Technologies during the 1st quarter valued at about $1,162,000. Masters Capital Management LLC acquired a new stake in BETA Technologies in the 1st quarter valued at about $10,290,000. Quantinno Capital Management LP acquired a new stake in BETA Technologies in the 1st quarter valued at about $1,115,000. Granahan Investment Management LLC purchased a new position in BETA Technologies in the 4th quarter worth approximately $12,366,000. Finally, Corient Private Wealth LP lifted its stake in BETA Technologies by 116.0% in the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock worth $2,531,000 after purchasing an additional 81,150 shares in the last quarter.

Insider Activity

In related news, insider Kyle Clark sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00. Following the sale, the insider directly owned 5,396,941 shares of the company's stock, valued at $137,190,240.22. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Stone bought 13,125 shares of BETA Technologies stock in a transaction on Wednesday, September 2nd. The shares were acquired at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the acquisition, the director owned 1,792,994 shares in the company, valued at $34,407,554.86. This represents a 0.74% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 283,901 shares of company stock valued at $6,749,518. 24.47% of the stock is currently owned by corporate insiders.

BETA Technologies Stock Down 3.0%

Shares of BETA opened at $17.66 on Thursday. The firm has a market cap of $3.98 billion and a P/E ratio of -1.36. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50. The company's 50-day moving average price is $22.14 and its 200 day moving average price is $18.84. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The company had revenue of $14.66 million during the quarter. On average, sell-side analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BETA shares. Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $31.00 price target on shares of BETA Technologies in a report on Monday, October 5th. Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Barclays assumed coverage on BETA Technologies in a research report on Friday, October 9th. They set an "overweight" rating and a $35.00 price objective on the stock. Finally, Needham & Company LLC reissued a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, August 12th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BETA Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.

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