BETA Technologies (NYSE:BETA) Stock Price Down 5.8% – Should You Sell?

BETA Technologies Inc (NYSE:BETA) shares fell 5.8% during mid-day trading on Tuesday. The stock traded as low as $18.69 and last traded at $18.6720. Approximately 337,074 shares were traded during trading, a decline of 81% from the average session volume of 1,806,946 shares. The stock had previously closed at $19.82.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BETA. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research report on Monday, October 5th. Barclays initiated coverage on shares of BETA Technologies in a report on Friday. They issued an “overweight” rating and a $35.00 price target for the company. Finally, 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, August 12th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

BETA Technologies Price Performance

The firm has a market cap of $4.17 billion and a P/E ratio of -1.42. 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 50-day simple moving average is $22.31 and its two-hundred day simple moving average is $18.80.

BETA Technologies (NYSE:BETA) last released its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The firm had revenue of $14.66 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. Equities research analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Insider Activity at BETA Technologies

In other BETA Technologies news, Director Michael Stone acquired 13,125 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were bought at an average price of $19.19 per share, with a total value of $251,868.75. Following the transaction, the director directly owned 1,792,994 shares of the company’s stock, valued at $34,407,554.86. The trade was a 0.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kyle Clark sold 30,000 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the transaction, the insider directly owned 5,396,941 shares in the company, valued at $137,190,240.22. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 263,901 shares of company stock valued at $6,374,618 in the last 90 days. Company insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new position in BETA Technologies during the 1st quarter worth $1,162,000. Masters Capital Management LLC bought a new position in BETA Technologies during the 1st quarter worth about $10,290,000. Quantinno Capital Management LP purchased a new position in BETA Technologies during the 1st quarter valued at about $1,115,000. Granahan Investment Management LLC purchased a new position in BETA Technologies during the 4th quarter valued at about $12,366,000. Finally, Corient Private Wealth LP raised its holdings in shares of BETA Technologies by 116.0% in the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock valued at $2,531,000 after purchasing an additional 81,150 shares in the last quarter.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.