BETA Technologies (NYSE:BETA) Stock Price Up 7.6% – Here’s Why

BETA Technologies Inc (NYSE:BETA)’s share price was up 7.6% during trading on Friday . The company traded as high as $18.95 and last traded at $18.9050. 703,650 shares traded hands during trading, a decline of 52% from the average daily volume of 1,468,948 shares. The stock had previously closed at $17.57.

Analysts Set New Price Targets

BETA has been the topic of several research analyst reports. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald reduced their target price on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Citigroup reduced their target price on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, May 18th. The Goldman Sachs Group decreased their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, BTIG Research dropped their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and an average target price of $31.11.

BETA Technologies Stock Performance

The firm has a market cap of $4.22 billion and a price-to-earnings ratio of -1.53. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average is $17.36 and its 200 day moving average is $18.08.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. BETA Technologies’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that BETA Technologies Inc will post -2.17 earnings per share for the current year.

Insider Activity at BETA Technologies

In other news, COO Sean Donovan sold 19,008 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $3,192,653.40. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 67,296 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $1,219,403.52. Following the completion of the sale, the insider owned 748,915 shares of the company’s stock, valued at $13,570,339.80. This trade represents a 8.24% decrease in their ownership of the stock. 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 243,928 shares of company stock valued at $4,220,475 in the last 90 days. Corporate insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of BETA Technologies in the fourth quarter valued at about $1,386,000. Stratos Wealth Partners LTD. bought a new position in BETA Technologies during the fourth quarter worth about $360,000. Capricorn Fund Managers Ltd acquired a new stake in BETA Technologies in the 4th quarter worth about $564,000. Massachusetts Financial Services Co. MA acquired a new stake in BETA Technologies in the 4th quarter worth about $6,349,000. Finally, Liberty Street Advisors Inc. bought a new stake in BETA Technologies in the 4th quarter valued at about $28,187,000.

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.