BETA Technologies (NYSE:BETA) Trading 6.4% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Citigroup decreased their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. BTIG Research lowered their target price on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. The Goldman Sachs Group cut 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. Finally, 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. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and an average target price of $31.11.

BETA Technologies Stock Performance

The company’s fifty day moving average is $16.87 and its 200 day moving average is $19.23. 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 company has a market cap of $3.93 billion and a P/E ratio of -1.44.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that BETA Technologies Inc will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other BETA Technologies news, insider Kyle Clark sold 15,000 shares of the stock in a transaction 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 completion of the sale, the insider owned 5,554,837 shares of the company’s stock, valued at $96,709,712.17. This represents a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael Robert Stone purchased 17,135 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the acquisition, the director owned 1,767,049 shares in the company, valued at approximately $25,781,244.91. The trade was a 0.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 243,928 shares of company stock worth $4,220,475. Company insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BETA. Parallel Advisors LLC raised its holdings in BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after purchasing an additional 685 shares in the last quarter. Sandia Investment Management LP bought a new stake in shares of BETA Technologies during the 4th quarter valued at about $26,000. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies during the fourth quarter valued at about $35,000. Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the 4th quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies in the 4th quarter valued at approximately $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.