Telemark Asset Management LLC Buys Shares of 200,000 BETA Technologies Inc $BETA

Telemark Asset Management LLC bought a new stake in shares of BETA Technologies Inc (NYSE:BETA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $5,642,000. Telemark Asset Management LLC owned about 0.09% of BETA Technologies at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BETA. Green Alpha Advisors LLC purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $603,000. SG Americas Securities LLC purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $1,386,000. Wolff Wiese Magana LLC purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $42,000. Stratos Wealth Partners LTD. purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $360,000. Finally, Capricorn Fund Managers Ltd purchased a new stake in BETA Technologies during the fourth quarter valued at approximately $564,000.

BETA Technologies Stock Performance

BETA opened at $17.13 on Friday. The firm has a market cap of $3.81 billion and a P/E ratio of -1.38. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50. The company has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $21.22. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. BETA Technologies’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Herman Cueto sold 18,586 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $336,778.32. Following the completion of the transaction, the chief financial officer owned 90,465 shares in the company, valued at approximately $1,639,225.80. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sean Donovan sold 19,008 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $344,424.96. Following the transaction, the chief operating officer owned 176,195 shares of the company’s stock, valued at approximately $3,192,653.40. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 138,928 shares of company stock valued at $2,517,375 in the last quarter. Company insiders own 24.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BETA shares. 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. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Morgan Stanley dropped their price target on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. The Goldman Sachs Group dropped their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Nine research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

About BETA Technologies

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.