Clearbridge Investments LLC Makes New $18.40 Million Investment in BETA Technologies Inc $BETA

Key Points

• Clearbridge Investments opened a new position in BETA Technologies during the fourth quarter, buying 652,335 shares worth about $18.4 million. The stake represented roughly 0.30% of the company.
• Wall Street sentiment remains mostly constructive: nine analysts rate BETA a Buy, with a consensus Moderate Buy and an average price target of $31.11. Several firms recently trimmed targets, but most still kept bullish ratings.
• BETA Technologies reported a narrower-than-expected quarterly loss of ($0.53) EPS versus the ($0.74) estimate, while revenue rose 5.2% year over year to $10.13 million. Insiders also sold shares recently, including CEO Kyle Clark and CFO Herman Cueto, largely tied to tax withholding on equity awards.

Clearbridge Investments LLC acquired a new position in shares of BETA Technologies Inc (NYSE:BETA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 652,335 shares of the company's stock, valued at approximately $18,402,000. Clearbridge Investments LLC owned 0.30% of BETA Technologies at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BETA. Wolff Wiese Magana LLC purchased a new position in BETA Technologies in the 4th quarter valued at $42,000. Parallel Advisors LLC purchased a new position in shares of BETA Technologies during the 4th quarter worth $74,000. Clean Yield Group purchased a new stake in BETA Technologies in the 4th quarter valued at about $235,000. Kingdom Financial Group LLC. purchased a new stake in BETA Technologies in the 4th quarter valued at about $297,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in BETA Technologies in the 4th quarter valued at about $360,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BETA. Cantor Fitzgerald dropped their target price on BETA Technologies from $38.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. The Goldman Sachs Group reduced their price objective on BETA Technologies from $38.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Jefferies Financial Group cut their price target on BETA Technologies from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Finally, Morgan Stanley cut their price target on BETA Technologies from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, March 10th. Nine equities 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. According to MarketBeat, BETA Technologies has an average rating of "Moderate Buy" and a consensus target price of $31.11.

Insider Activity

In related news, insider Kyle Clark sold 4,965 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $89,965.80. Following the completion of the transaction, the insider owned 49,746 shares in the company, valued at $901,397.52. This trade represents a 9.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Herman Cueto sold 18,586 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 $336,778.32. Following the transaction, the chief financial officer owned 90,465 shares in the company, valued at $1,639,225.80. This represents a 17.04% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 138,928 shares of company stock worth $2,517,375 over the last ninety days. 24.47% of the stock is currently owned by company insiders.

BETA Technologies Price Performance

Shares of NYSE BETA opened at $16.54 on Wednesday. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The business has a 50 day moving average price of $16.67 and a two-hundred day moving average price of $21.06. The firm has a market cap of $3.68 billion and a PE ratio of -1.34.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

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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