Axiom Investors LLC DE Takes Position in BETA Technologies Inc $BETA

Axiom Investors LLC DE purchased a new position in BETA Technologies Inc (NYSE:BETA) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 104,400 shares of the company’s stock, valued at approximately $2,945,000.

A number of other hedge funds have also modified their holdings of BETA. Manchester Capital Management LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth $38,000. Wolff Wiese Magana LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth $42,000. Parallel Advisors LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth $74,000. Clean Yield Group acquired a new position in BETA Technologies in the 4th quarter valued at $235,000. Finally, Kingdom Financial Group LLC. acquired a new position in BETA Technologies in the 4th quarter valued at $297,000.

Insider Transactions at BETA Technologies

In other news, COO Sean Donovan sold 19,008 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 value of $344,424.96. Following the sale, the chief operating officer owned 176,195 shares of the company’s stock, valued at $3,192,653.40. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 67,296 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $1,219,403.52. Following the completion of the sale, the insider directly owned 748,915 shares in the company, valued at approximately $13,570,339.80. This represents a 8.24% 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. In the last 90 days, insiders have sold 138,928 shares of company stock valued at $2,517,375. 24.47% of the stock is currently owned by insiders.

BETA Technologies Trading Down 5.8%

BETA opened at $16.54 on Wednesday. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.68 billion and a PE ratio of -1.34. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50. The firm has a 50-day moving average price of $16.67 and a two-hundred day moving average price of $21.06.

BETA Technologies (NYSE:BETA) last issued its quarterly 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. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

BETA has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. The Goldman Sachs Group reduced their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. Morgan Stanley reduced their price target on shares of 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 reduced their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a report on Monday, May 18th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

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.