652,335 Shares in BETA Technologies Inc $BETA Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC purchased a new stake in BETA Technologies Inc (NYSE:BETA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 652,335 shares of the company’s stock, valued at approximately $18,402,000.

Other large investors have also recently added to or reduced their stakes in the company. General Electric Co acquired a new position in shares of BETA Technologies in the 4th quarter worth approximately $644,962,000. Amazon Com Inc. acquired a new stake in BETA Technologies during the 4th quarter valued at $331,577,000. Vanguard Group Inc. bought a new position in BETA Technologies in the 4th quarter valued at $77,089,000. Norges Bank bought a new position in BETA Technologies in the 4th quarter valued at $41,485,000. Finally, Liberty Street Advisors Inc. bought a new position in BETA Technologies in the 4th quarter valued at $28,187,000.

BETA Technologies Stock Down 5.8%

Shares of NYSE:BETA opened at $16.54 on Wednesday. The company has a fifty day moving average of $16.67 and a 200-day moving average of $21.06. The company has a market capitalization of $3.68 billion and a PE ratio of -1.34. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities analysts predict that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reduced their price target on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Citigroup dropped their price target 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. Morgan Stanley lowered their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 10th. 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 research report on Tuesday, March 10th. Finally, Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.11.

Insider Activity at BETA Technologies

In related news, CTO David Lawrence Churchill sold 18,981 shares of the company’s stock in a transaction dated 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 owned 552,647 shares in the company, valued at $10,013,963.64. This represents a 3.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone bought 17,135 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was acquired at an average price of $14.59 per share, for a total transaction of $249,999.65. Following the acquisition, the director directly owned 1,767,049 shares in the company, valued at $25,781,244.91. The trade was a 0.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 138,928 shares of company stock worth $2,517,375. 24.47% of the stock is currently owned by insiders.

BETA Technologies 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.