Pictet Asset Management Holding SA Makes New $10.90 Million Investment in BETA Technologies Inc $BETA

Key Points

• Pictet Asset Management bought a new position of 386,243 shares in BETA Technologies worth about $10.90 million, representing roughly 0.18% of the company at quarter-end.
• BETA reported a Q of ($2.02) EPS vs. ($0.47) expected and $11.13 million in revenue (up 152% YoY); shares traded around $16.25 with a 52-week range of $13.43–$39.50 and a market cap near $3.6 billion.
• Analyst sentiment is generally positive—nine Buys, one Hold and one Sell—with a consensus price target of about $33.56 (rated "Moderate Buy").

Pictet Asset Management Holding SA bought a new position in shares of BETA Technologies Inc (NYSE:BETA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 386,243 shares of the company's stock, valued at approximately $10,896,000. Pictet Asset Management Holding SA owned approximately 0.18% of BETA Technologies at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC bought a new position in BETA Technologies during the 4th quarter worth about $42,000. Clean Yield Group bought a new position in BETA Technologies during the 4th quarter worth about $235,000. Stratos Wealth Partners LTD. acquired a new position in shares of BETA Technologies during the 4th quarter worth about $360,000. Capricorn Fund Managers Ltd acquired a new position in shares of BETA Technologies during the 4th quarter worth about $564,000. Finally, Green Alpha Advisors LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth about $603,000.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BETA. BTIG Research restated a "buy" rating and set a $40.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Morgan Stanley reduced their price objective on shares of BETA Technologies from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, March 10th. Cantor Fitzgerald restated an "overweight" rating and set a $38.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of BETA Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, January 17th. Finally, Needham & Company LLC restated a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Monday, March 9th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.56.

BETA Technologies Stock Performance

Shares of NYSE:BETA opened at $16.25 on Friday. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The firm has a market cap of $3.60 billion and a P/E ratio of -1.37. The firm has a 50-day moving average price of $16.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its earnings results on Monday, March 9th. The company reported ($2.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The company had revenue of $11.13 million for the quarter, compared to analyst estimates of $6.69 million. BETA Technologies's quarterly revenue was up 152.3% compared to the same quarter last year. As a group, equities analysts forecast that BETA Technologies Inc will post -2.2 earnings per share for the current year.

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.

Want to see what other hedge funds are holding BETA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BETA Technologies Inc (NYSE:BETA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.