BETA Technologies Inc (NYSE:BETA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of BETA Technologies Inc (NYSE:BETA) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $31.1111.

BETA has been the subject of a number of analyst reports. UBS Group set a $24.00 price target on BETA Technologies and gave the company a “buy” rating in a report on Monday, February 9th. Citigroup decreased their price target on BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. BTIG Research decreased their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Jefferies Financial Group decreased their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Cantor Fitzgerald decreased their price target on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th.

BETA Technologies Trading Down 0.2%

Shares of NYSE:BETA opened at $16.72 on Monday. BETA Technologies has a 12-month low of $13.43 and a 12-month high of $39.50. The firm has a market capitalization of $3.72 billion and a P/E ratio of -1.35. The firm has a 50 day moving average of $16.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. BETA Technologies’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that BETA Technologies will post -2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction, the chief financial officer owned 90,465 shares in the company, valued at $1,639,225.80. This represents a 17.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 4,965 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $89,965.80. Following the completion of the transaction, the insider directly owned 49,746 shares of the company’s stock, valued at approximately $901,397.52. This represents a 9.07% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 138,928 shares of company stock valued at $2,517,375. 24.47% of the stock is owned by company insiders.

Institutional Trading of BETA Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of BETA. Green Alpha Advisors LLC acquired a new stake in shares of BETA Technologies in the 4th quarter worth $603,000. SG Americas Securities LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth about $1,386,000. Wolff Wiese Magana LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth about $42,000. Stratos Wealth Partners LTD. acquired a new stake in shares of BETA Technologies during the 4th quarter worth about $360,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of BETA Technologies during the 4th quarter worth about $564,000.

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.