BETA Technologies (NYSE:BETA) Stock Price Up 5.8% - Here's Why

Key Points

• BETA Technologies shares rose 5.8% to about $24.50 in midday trading, although volume was 66% below the average daily level.
• Analyst sentiment remains broadly positive: nine analysts rate the stock Buy, one rates it Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $31.11.
• The company reported a quarterly EPS loss of $0.64, missing the $0.56 consensus estimate, on revenue of $14.66 million. Insiders have sold 223,901 shares worth approximately $5.35 million over the past 90 days.

BETA Technologies Inc (NYSE:BETA - Get Free Report)'s stock price was up 5.8% during mid-day trading on Friday. The stock traded as high as $24.61 and last traded at $24.4950. Approximately 619,435 shares traded hands during trading, a decline of 66% from the average daily volume of 1,806,988 shares. The stock had previously closed at $23.15.

Analyst Ratings Changes

Several analysts have recently commented on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. 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. Citigroup restated a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 target price 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.11.

BETA Technologies Stock Up 4.6%

The stock has a market cap of $5.46 billion and a price-to-earnings ratio of -1.87. The business has a fifty day moving average of $21.57 and a 200 day moving average of $18.41. 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 (NYSE:BETA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The business had revenue of $14.66 million during the quarter. On average, equities analysts predict that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Insider Buying and Selling

In other BETA Technologies news, insider Kyle Clark sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This trade represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 223,901 shares of company stock valued at $5,350,168. Corporate insiders own 24.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. TPG GP A LLC acquired a new position in shares of BETA Technologies in the 4th quarter valued at $462,515,000. Amazon Com Inc. acquired a new position in BETA Technologies in the fourth quarter worth about $331,577,000. Norges Bank bought a new position in BETA Technologies during the fourth quarter worth about $41,485,000. Clearbridge Investments LLC acquired a new stake in BETA Technologies during the fourth quarter valued at approximately $18,402,000. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $17,289,000.

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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