BETA Technologies (NYSE:BETA) Director Purchases $251,015.60 in Stock

Key Points

• Director Michael Stone bought 12,820 BETA shares at an average $19.58, spending $251,015.60 and increasing his ownership by 0.73% to 1.78 million shares. He also purchased an additional 13,125 shares the following day for $251,868.75.
• BETA shares recently traded at $20.80, with a $4.69 billion market capitalization and a 52-week range of $13.43 to $39.50. The company reported a quarterly loss of $0.64 per share, worse than analysts’ expected $0.56 loss, on $14.66 million in revenue.
• 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, versus the recent $20.80 price.

BETA Technologies Inc (NYSE:BETA - Get Free Report) Director Michael Stone bought 12,820 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average cost of $19.58 per share, for a total transaction of $251,015.60. Following the completion of the acquisition, the director owned 1,779,869 shares of the company's stock, valued at $34,849,835.02. This trade represents a 0.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Michael Robert Stone also recently made the following trade(s):

• On Wednesday, September 2nd, Michael Stone purchased 13,125 shares of BETA Technologies stock. The shares were bought at an average price of $19.19 per share, with a total value of $251,868.75.

BETA Technologies Stock Performance

NYSE:BETA traded up $0.38 during trading hours on Thursday, reaching $20.80. The company had a trading volume of 2,641,268 shares, compared to its average volume of 1,566,133. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50. The business's 50 day moving average price is $20.26 and its 200-day moving average price is $18.11. The firm has a market cap of $4.69 billion and a PE ratio of -1.60.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). The firm had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. Research analysts forecast that BETA Technologies Inc will post -2.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP raised its position in shares of BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock worth $2,531,000 after purchasing an additional 81,150 shares during the last quarter. California State Teachers Retirement System increased its stake in BETA Technologies by 57,099.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,038,751 shares of the company's stock worth $17,399,000 after buying an additional 1,036,935 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in BETA Technologies during the 2nd quarter worth approximately $2,877,000. Parallel Advisors LLC raised its holdings in shares of BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company's stock valued at $49,000 after acquiring an additional 685 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of BETA Technologies by 117.2% during the first quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock valued at $5,117,000 after acquiring an additional 187,807 shares during the last quarter.

Analysts Set New Price Targets

BETA has been the topic of several analyst reports. BTIG Research restated a "buy" rating and set a $33.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reiterated a "buy" rating and issued a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, August 12th. Cantor Fitzgerald reissued an "overweight" rating and set a $31.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup restated a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Weiss Ratings lowered BETA Technologies from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday. Nine 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.11.

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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