Healthcare of Ontario Pension Plan Trust Fund Sells 255,309 Shares of BETA Technologies Inc $BETA

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in BETA Technologies Inc (NYSE:BETA) by 53.2% in the 1st quarter, HoldingsChannel reports. The fund owned 225,000 shares of the company’s stock after selling 255,309 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in BETA Technologies were worth $3,308,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. General Electric Co acquired a new position in shares of BETA Technologies during the fourth quarter worth $644,962,000. TPG GP A LLC acquired a new stake in BETA Technologies in the fourth quarter valued at $462,515,000. Amazon Com Inc. bought a new position in BETA Technologies during the 4th quarter worth $331,577,000. Vanguard Group Inc. bought a new position in BETA Technologies during the 4th quarter worth $77,089,000. Finally, Norges Bank acquired a new position in BETA Technologies during the 4th quarter worth about $41,485,000.

BETA Technologies Stock Up 4.1%

Shares of NYSE:BETA opened at $17.65 on Friday. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The business’s 50-day moving average is $17.32 and its 200-day moving average is $18.07. The company has a market capitalization of $3.92 billion and a price-to-earnings ratio of -1.43.

BETA Technologies (NYSE:BETA) last released 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. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts predict that BETA Technologies Inc will post -2.17 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. BTIG Research cut their price objective 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. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Citigroup decreased their target price on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Insider Transactions at BETA Technologies

In related news, Director Michael Robert Stone acquired 17,135 shares of the stock in a transaction dated Tuesday, May 19th. The stock was bought at an average price of $14.59 per share, for a total transaction of $249,999.65. Following the purchase, the director directly owned 1,767,049 shares of the company’s stock, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $1,219,403.52. Following the transaction, the insider owned 748,915 shares in the company, valued at $13,570,339.80. The trade was a 8.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 243,928 shares of company stock valued at $4,220,475. 24.47% of the stock is owned by insiders.

BETA Technologies Company 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.