Next Century Growth Investors LLC Acquires New Position in BETA Technologies Inc $BETA

Next Century Growth Investors LLC acquired a new stake in shares of BETA Technologies Inc (NYSE:BETA) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 94,526 shares of the company’s stock, valued at approximately $2,667,000.

Other large investors also recently bought and sold shares of the company. Manchester Capital Management LLC purchased a new stake in BETA Technologies during the 4th quarter valued at about $38,000. Wolff Wiese Magana LLC purchased a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $42,000. Kestra Advisory Services LLC purchased a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $70,000. Parallel Advisors LLC purchased a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $74,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $214,000.

BETA Technologies Price Performance

BETA Technologies stock opened at $16.23 on Monday. 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 Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The firm has a market cap of $3.61 billion and a PE ratio of -1.31. The company’s 50 day moving average is $16.78 and its two-hundred day moving average is $20.88.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. BETA Technologies’s revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Insider Buying and Selling

In other BETA Technologies news, Director Michael Robert Stone purchased 17,135 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was bought at an average price of $14.59 per share, with a total value of $249,999.65. Following the transaction, the director directly owned 1,767,049 shares of the company’s stock, valued at approximately $25,781,244.91. This represents a 0.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 transaction, 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 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. Insiders have sold a total of 138,928 shares of company stock worth $2,517,375 over the last three months. 24.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BETA shares. Jefferies Financial Group dropped their price target 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. Morgan Stanley dropped their price target on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company 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 research note on Wednesday, May 13th. BTIG Research dropped their price target on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, The Goldman Sachs Group dropped their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BETA Technologies has an average rating of “Moderate Buy” and an average price target of $31.11.

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.