BETA Technologies (NYSE:BETA) CFO Sells $336,778.32 in Stock

BETA Technologies Inc (NYSE:BETA) CFO Herman Cueto sold 18,586 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at $1,639,225.80. This represents a 17.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BETA Technologies Trading Down 0.9%

NYSE:BETA traded down $0.17 on Monday, reaching $18.52. 2,196,627 shares of the stock traded hands, compared to its average volume of 1,428,809. The stock has a market capitalization of $4.10 billion and a price-to-earnings ratio of -1.56. The firm has a 50 day moving average of $16.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 22.77 and a quick ratio of 22.77. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50.

BETA Technologies (NYSE:BETA) last released its earnings results on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The business had revenue of $11.13 million for the quarter, compared to analyst estimates of $6.69 million. BETA Technologies’s quarterly revenue was up 152.3% on a year-over-year basis. On average, equities research analysts forecast that BETA Technologies Inc will post -2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On BETA Technologies

A number of large investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after purchasing an additional 685 shares in the last quarter. Wealthfront Advisers LLC bought a new position in shares of BETA Technologies in the 1st quarter worth $257,000. Bank of New York Mellon Corp bought a new position in shares of BETA Technologies in the 1st quarter worth $1,162,000. Strs Ohio bought a new position in shares of BETA Technologies in the 1st quarter worth $85,000. Finally, Capricorn Fund Managers Ltd lifted its holdings in shares of BETA Technologies by 318.5% in the 1st quarter. Capricorn Fund Managers Ltd now owns 83,696 shares of the company’s stock worth $1,230,000 after purchasing an additional 63,696 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on BETA. Weiss Ratings began coverage on shares of BETA Technologies in a research report on Friday, January 30th. They set a “sell (d-)” rating for the company. Needham & Company LLC reissued a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Monday, March 9th. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of BETA Technologies in a report on Tuesday, March 10th. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Finally, UBS Group set a $24.00 price target on BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.56.

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.