BETA Technologies (NYSE:BETA) Stock Jumps 6.1% - Time to Buy?

Key Points

• BETA Technologies shares rose 6.1% to about $19.27, though trading volume was 86% below the average session level.
• Analysts remain broadly optimistic, with a consensus “Moderate Buy” rating and an average price target of $31.50, implying substantial upside from the current price.
• The company continues to face significant financial challenges: it missed quarterly EPS expectations, reported a negative net margin exceeding 1,900%, and insiders have sold more than 303,000 shares over the past three months.

BETA Technologies Inc (NYSE:BETA - Get Free Report) was up 6.1% during trading on Wednesday. The company traded as high as $19.29 and last traded at $19.2660. 250,675 shares were traded during trading, a decline of 86% from the average session volume of 1,801,172 shares. The stock had previously closed at $18.15.

Analyst Ratings Changes

BETA has been the subject of several recent research reports. Weiss Ratings upgraded shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Needham & Company LLC reissued a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a report on Wednesday. Citigroup reissued a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reissued a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $31.00 target price on shares of BETA Technologies in a report on Monday, October 5th. Ten 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's stock. According to data from MarketBeat, BETA Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.

BETA Technologies Price Performance

The firm has a market capitalization of $4.33 billion and a P/E ratio of -1.47. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The stock's fifty day simple moving average is $21.71 and its 200 day simple moving average is $18.95.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $14.66 million during the quarter. On average, equities research analysts predict that BETA Technologies Inc will post -2.25 EPS for the current year.

Insider Buying and Selling

In related news, insider Kyle Clark sold 10,000 shares of the stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $18.11, for a total transaction of $181,100.00. Following the completion of the sale, the insider owned 5,055,936 shares of the company's stock, valued at $91,563,000.96. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold a total of 303,901 shares of company stock worth $7,115,718 over the last three months. Corporate insiders own 24.47% of the company's stock.

Hedge Funds Weigh In On BETA Technologies

Institutional investors and hedge funds have recently bought and sold shares of the company. Masters Capital Management LLC acquired a new position in shares of BETA Technologies during the first quarter worth $10,290,000. Bank of America Corp DE boosted its position in shares of BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after purchasing an additional 187,807 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of BETA Technologies in the 3rd quarter worth $2,905,000. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies in the 2nd quarter worth $2,877,000. Finally, Corient Private Wealth LP grew its stake in 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 buying an additional 81,150 shares during the last quarter.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA's aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.

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