BETA Technologies (NYSE:BETA) Stock Price Up 6.4% – Time to Buy?

BETA Technologies Inc (NYSE:BETA) shares were up 6.4% on Friday . The stock traded as high as $17.68 and last traded at $17.8050. Approximately 530,537 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 1,486,014 shares. The stock had previously closed at $16.73.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BETA. Cantor Fitzgerald cut their target price on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. BTIG Research lowered their price target on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. The Goldman Sachs Group cut their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Stock Performance

The firm has a market cap of $3.93 billion and a price-to-earnings ratio of -1.43. The stock has a 50 day moving average of $16.94 and a 200 day moving average of $19.22. 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 announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that BETA Technologies Inc will post -2.17 EPS for the current fiscal year.

Insider Activity

In related news, insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $17.41, for a total transaction of $261,150.00. Following the sale, the insider directly owned 5,554,837 shares of the company’s stock, valued at approximately $96,709,712.17. The trade was a 0.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sean Donovan sold 19,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $344,424.96. Following the completion of the sale, the chief operating officer owned 176,195 shares in the company, valued at $3,192,653.40. This represents 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. In the last 90 days, insiders sold 243,928 shares of company stock worth $4,220,475. Insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sandia Investment Management LP bought a new position in shares of BETA Technologies during the fourth quarter valued at $26,000. California State Teachers Retirement System acquired a new position in shares of BETA Technologies in the first quarter worth approximately $27,000. Rockefeller Capital Management L.P. bought a new position in BETA Technologies during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at $38,000. Finally, Wolff Wiese Magana LLC bought a new position in BETA Technologies during the fourth quarter worth $42,000.

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.