Corient Private Wealth LP Has $2.53 Million Holdings in BETA Technologies Inc $BETA

Key Points

• Corient Private Wealth increased its BETA Technologies stake by 116% in the second quarter, bringing its holdings to 151,118 shares valued at approximately $2.53 million. Other major investors, including TPG GP, Amazon, and Norges Bank, also established positions.
• BETA shares opened at $23.30, with a $5.25 billion market capitalization, after rising 5.6%. The company reported quarterly revenue of $14.66 million and an EPS loss of $0.64, missing analysts’ expectations.
• Analysts maintain a generally positive outlook, with nine Buy ratings, one Hold, and one Sell, producing a “Moderate Buy” consensus and an average price target of $31.11. Recent targets range from $31 to $34.

Corient Private Wealth LP raised its position in shares of BETA Technologies Inc (NYSE:BETA - Free Report) by 116.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 151,118 shares of the company's stock after purchasing an additional 81,150 shares during the period. Corient Private Wealth LP owned 0.07% of BETA Technologies worth $2,531,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BETA. TPG GP A LLC acquired a new position in BETA Technologies in the fourth quarter worth approximately $462,515,000. Amazon Com Inc. acquired a new position in BETA Technologies during the fourth quarter worth $331,577,000. Norges Bank acquired a new position in BETA Technologies during the fourth quarter worth $41,485,000. Masters Capital Management LLC bought a new position in BETA Technologies during the first quarter valued at about $10,290,000. Finally, Clearbridge Investments LLC bought a new position in BETA Technologies during the fourth quarter valued at about $18,402,000.

BETA Technologies Trading Up 5.6%

Shares of BETA stock opened at $23.30 on Wednesday. The firm has a market capitalization of $5.25 billion and a P/E ratio of -1.79. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The firm's fifty day simple moving average is $21.35 and its 200 day simple moving average is $18.35. 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 posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (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. As a group, sell-side analysts predict that BETA Technologies Inc will post -2.25 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on BETA. BTIG Research reiterated a "buy" rating and set a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup reissued a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. 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 set a $31.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, August 12th. Nine research 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. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.11.

Insider Transactions at BETA Technologies

In other news, insider Kyle Clark sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the transaction, the insider owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 238,901 shares of company stock worth $5,597,818 in the last 90 days. Insiders own 24.47% of the company's stock.

BETA Technologies Profile

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA's aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.

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