Norges Bank Makes New Investment in BETA Technologies Inc $BETA

Norges Bank acquired a new position in BETA Technologies Inc (NYSE:BETA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,470,589 shares of the company’s stock, valued at approximately $41,485,000. Norges Bank owned approximately 0.67% of BETA Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wolff Wiese Magana LLC acquired a new stake in BETA Technologies in the 4th quarter worth about $42,000. Clean Yield Group acquired a new position in BETA Technologies in the 4th quarter valued at $235,000. Kingdom Financial Group LLC. acquired a new position in BETA Technologies in the 4th quarter valued at $297,000. Stratos Wealth Partners LTD. acquired a new position in BETA Technologies in the 4th quarter valued at $360,000. Finally, Renaissance Capital LLC acquired a new position in BETA Technologies in the 4th quarter valued at $450,000.

Insider Buying and Selling at BETA Technologies

In other BETA Technologies news, CFO Herman Cueto sold 18,586 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the transaction, the chief financial officer 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO David Lawrence Churchill sold 18,981 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $343,935.72. Following the completion of the transaction, the chief technology officer directly owned 552,647 shares of the company’s stock, valued at approximately $10,013,963.64. The trade was a 3.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 138,928 shares of company stock worth $2,517,375 over the last 90 days. 24.47% of the stock is owned by corporate insiders.

BETA Technologies Price Performance

BETA Technologies stock opened at $17.61 on Tuesday. 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. The stock has a market capitalization of $3.91 billion and a P/E ratio of -1.42. The stock has a fifty day moving average of $16.62 and a 200-day moving average of $21.11.

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. Citigroup dropped their price objective on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, May 13th. BTIG Research dropped their target price on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Finally, Morgan Stanley dropped their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.11.

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.