BETA Technologies Inc (NYSE:BETA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

BETA Technologies Inc (NYSE:BETA) has received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.1111.

Several research firms have recently commented on BETA. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, May 13th. The Goldman Sachs Group decreased 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. BTIG Research decreased their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Morgan Stanley decreased their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Finally, Citigroup decreased 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.

Insider Activity at BETA Technologies

In related news, CFO Herman Cueto sold 18,586 shares of BETA Technologies 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 $336,778.32. Following the transaction, the chief financial officer owned 90,465 shares of the company’s stock, valued at $1,639,225.80. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing 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, COO Sean Donovan sold 19,008 shares of BETA Technologies stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at approximately $3,192,653.40. The trade was a 9.74% 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 have sold 153,928 shares of company stock valued at $2,755,725 over the last 90 days. Corporate insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares during the last quarter. Bank of America Corp DE boosted its position in BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after purchasing an additional 187,807 shares during the last quarter. California State Teachers Retirement System purchased a new position in BETA Technologies in the first quarter worth $27,000. Readystate Asset Management LP boosted its position in BETA Technologies by 19.0% in the first quarter. Readystate Asset Management LP now owns 25,000 shares of the company’s stock worth $368,000 after purchasing an additional 4,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in BETA Technologies by 246.2% in the first quarter. The Manufacturers Life Insurance Company now owns 34,186 shares of the company’s stock worth $503,000 after purchasing an additional 24,312 shares during the last quarter.

BETA Technologies Trading Up 2.0%

NYSE BETA opened at $16.09 on Friday. The company has a market cap of $3.58 billion and a price-to-earnings ratio of -1.30. BETA Technologies has a 52 week low of $13.43 and a 52 week high of $39.50. The business has a 50 day moving average price of $16.81 and a 200-day moving average price of $20.58. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10.

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

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.