BETA Technologies (NYSE:BETA) Shares Gap Up – What’s Next?

BETA Technologies Inc (NYSE:BETA)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $18.56, but opened at $19.48. BETA Technologies shares last traded at $18.34, with a volume of 559,085 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BETA shares. The Goldman Sachs Group lowered their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. BTIG Research reduced their target price on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, May 13th. UBS Group set a $24.00 price target on shares of BETA Technologies and gave the stock a “buy” rating in a research note on Monday, February 9th. Finally, Morgan Stanley reduced their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Price Performance

The firm has a market cap of $4.12 billion and a PE ratio of -1.50. The firm’s fifty day simple moving average is $16.33 and its two-hundred day simple moving average is $21.56. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that BETA Technologies Inc will post -2.13 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Herman Cueto sold 18,586 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the transaction, the chief financial officer owned 90,465 shares of the company’s stock, valued at $1,639,225.80. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Lawrence Churchill sold 18,981 shares of BETA Technologies stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $343,935.72. Following the sale, the chief technology officer directly owned 552,647 shares in the company, valued at $10,013,963.64. This trade represents a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 138,928 shares of company stock valued at $2,517,375. Insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. General Electric Co bought a new stake in BETA Technologies in the 4th quarter valued at $644,962,000. TPG GP A LLC bought a new position in shares of BETA Technologies during the 4th quarter valued at about $462,515,000. Amazon Com Inc. purchased a new position in shares of BETA Technologies during the fourth quarter valued at about $331,577,000. Vanguard Group Inc. bought a new stake in shares of BETA Technologies in the fourth quarter worth about $77,089,000. Finally, Norges Bank bought a new stake in shares of BETA Technologies in the fourth quarter worth about $41,485,000.

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.