Squarepoint Ops LLC Buys New Shares in BETA Technologies Inc $BETA

Squarepoint Ops LLC acquired a new position in shares of BETA Technologies Inc (NYSE:BETA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 122,080 shares of the company's stock, valued at approximately $2,045,000. Squarepoint Ops LLC owned approximately 0.05% of BETA Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BETA. TPG GP A LLC purchased a new stake in shares of BETA Technologies during the fourth quarter worth $462,515,000. Amazon Com Inc. acquired a new stake in shares of BETA Technologies in the fourth quarter worth $331,577,000. Norges Bank bought a new position in shares of BETA Technologies during the 4th quarter worth about $41,485,000. Clearbridge Investments LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $18,402,000. Finally, California State Teachers Retirement System increased its holdings in BETA Technologies by 57,099.9% in the 2nd quarter. California State Teachers Retirement System now owns 1,038,751 shares of the company's stock valued at $17,399,000 after buying an additional 1,036,935 shares during the period.

Insider Transactions at BETA Technologies

In related news, insider Kyle Clark sold 23,205 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $25.22, for a total transaction of $585,230.10. Following the sale, the insider owned 5,235,936 shares in the company, valued at approximately $132,050,305.92. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Stone acquired 13,125 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was purchased at an average cost of $19.19 per share, with a total value of $251,868.75. Following the transaction, the director owned 1,792,994 shares in the company, valued at approximately $34,407,554.86. This trade represents a 0.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders sold 283,901 shares of company stock worth $6,308,068. 24.47% of the stock is owned by company insiders.

BETA Technologies Trading Down 2.5%

BETA opened at $20.63 on Tuesday. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50. The firm's fifty day moving average is $20.86 and its two-hundred day moving average is $18.26. The firm has a market cap of $4.65 billion and a PE ratio of -1.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47.

BETA Technologies (NYSE:BETA - Get Free Report) last posted 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 net margin of 1,913.91% and a negative return on equity of 96.24%. The company had revenue of $14.66 million during the quarter. Equities research analysts anticipate that BETA Technologies Inc will post -2.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BETA shares. Needham & Company LLC reiterated a "buy" rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $31.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reissued a "buy" rating and issued a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings lowered BETA Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, September 1st. Finally, Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BETA Technologies presently has an average rating of "Moderate Buy" and an average price target of $31.11.

BETA Technologies Company 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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