BETA Technologies (NYSE:BETA) COO Sells $344,424.96 in Stock

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 19,008 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 $344,424.96. Following the sale, the chief operating officer directly owned 176,195 shares of the company’s stock, valued at $3,192,653.40. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

BETA Technologies Trading Down 0.9%

BETA stock traded down $0.17 during mid-day trading on Monday, reaching $18.52. 2,196,627 shares of the stock traded hands, compared to its average volume of 1,428,809. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The stock has a market capitalization of $4.10 billion and a P/E ratio of -1.56. The stock has a fifty day moving average of $16.80.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The business had revenue of $11.13 million for the quarter, compared to the consensus estimate of $6.69 million. The firm’s revenue for the quarter was up 152.3% compared to the same quarter last year. Equities research analysts expect that BETA Technologies Inc will post -2.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on BETA. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. BTIG Research reaffirmed a “buy” rating and set a $40.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. Citigroup reduced their price objective on shares of BETA Technologies from $41.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. Jefferies Financial Group reduced their price objective on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 price objective on shares of BETA Technologies in a research note on Tuesday, March 10th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.56.

Hedge Funds Weigh In On BETA Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sandia Investment Management LP bought a new position in BETA Technologies during the fourth quarter valued at approximately $26,000. Rockefeller Capital Management L.P. bought a new position in BETA Technologies during the fourth quarter valued at approximately $35,000. Manchester Capital Management LLC bought a new position in BETA Technologies during the fourth quarter valued at approximately $38,000. Wolff Wiese Magana LLC bought a new position in BETA Technologies during the fourth quarter valued at approximately $42,000. Finally, Parallel Advisors LLC raised its position in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after acquiring an additional 685 shares in the last quarter.

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.