Granahan Investment Management LLC Makes New Investment in BETA Technologies Inc $BETA

Granahan Investment Management 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 Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 438,351 shares of the company's stock, valued at approximately $12,366,000. Granahan Investment Management LLC owned about 0.20% of BETA Technologies as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC bought a new stake in BETA Technologies during the 4th quarter worth about $38,000. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at about $42,000. Kestra Advisory Services LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at about $70,000. Parallel Advisors LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at about $74,000. Finally, Wells Fargo & Company MN bought a new position in shares of BETA Technologies in the 4th quarter valued at about $214,000.

BETA Technologies Stock Performance

Shares of NYSE:BETA opened at $15.77 on Wednesday. The company has a market capitalization of $3.50 billion and a price-to-earnings ratio of -1.27. The firm's 50 day simple moving average is $16.81 and its 200 day simple moving average is $20.73. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The business's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BETA shares. Citigroup reduced their target price on shares of BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their target price on shares of BETA Technologies from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, March 10th. BTIG Research reduced their target price 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $31.11.

Insiders Place Their Bets

In related news, CFO Herman Cueto sold 18,586 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 90,465 shares in the company, valued at $1,639,225.80. This trade represents a 17.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 4,965 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $89,965.80. Following the completion of the sale, the insider owned 49,746 shares in the company, valued at $901,397.52. This represents a 9.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 138,928 shares of company stock worth $2,517,375 over the last ninety days. Company insiders own 24.47% of the company's stock.

About BETA Technologies

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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