BETA Technologies (NYSE:BETA) Shares Up 11.8% – What’s Next?

BETA Technologies Inc (NYSE:BETA) shares were up 11.8% during mid-day trading on Thursday . The stock traded as high as $18.64 and last traded at $18.8150. Approximately 993,249 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 1,469,149 shares. The stock had previously closed at $16.83.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BETA shares. Citigroup lowered their target price 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. BTIG Research lowered their target price 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. 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 note on Tuesday, March 10th. 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 note on Tuesday, March 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, May 13th. Nine research 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 Up 9.9%

The business has a 50-day moving average price of $16.16. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.11 billion and a price-to-earnings ratio of -1.49.

BETA Technologies (NYSE:BETA) last posted its earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. BETA Technologies’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $18.12, for a total transaction of $336,778.32. Following the completion of the sale, the chief financial officer directly owned 90,465 shares in the company, valued at $1,639,225.80. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 the firm’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 $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at $3,192,653.40. This trade represents a 9.74% 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 138,928 shares of company stock worth $2,517,375 in the last 90 days. Corporate insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after purchasing an additional 685 shares during the period. Sandia Investment Management LP purchased a new stake in shares of BETA Technologies during the fourth quarter valued at approximately $26,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the fourth quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth $42,000.

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.