BETA Technologies (NYSE:BETA) Director Purchases $249,999.65 in Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Robert Stone bought 17,135 shares of the stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the acquisition, the director directly owned 1,767,049 shares of the company’s stock, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

BETA Technologies Stock Performance

BETA Technologies stock opened at $16.72 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The firm has a market capitalization of $3.72 billion and a price-to-earnings ratio of -1.35. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The firm has a fifty day moving average price of $16.17.

BETA Technologies (NYSE:BETA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

Large investors have recently made changes to their positions in the stock. General Electric Co acquired a new stake in shares of BETA Technologies during the fourth quarter valued at $644,962,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of BETA Technologies during the fourth quarter valued at $6,349,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies during the fourth quarter valued at $77,089,000. Liberty Street Advisors Inc. acquired a new stake in shares of BETA Technologies during the fourth quarter valued at $28,187,000. Finally, Pictet Asset Management Holding SA acquired a new stake in BETA Technologies in the 4th quarter worth about $10,896,000.

Analyst Ratings Changes

BETA has been the topic of several research reports. Jefferies Financial Group lowered their target price on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Citigroup decreased their price objective on BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, May 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. BTIG Research decreased their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group decreased their price objective on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

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.