Michael Robert Stone Buys 17,135 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Robert Stone purchased 17,135 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $14.59 per share, for a total transaction of $249,999.65. Following the completion of the acquisition, the director owned 1,767,049 shares of the company’s stock, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

BETA Technologies Stock Performance

BETA Technologies stock opened at $16.72 on Friday. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The stock has a market capitalization of $3.72 billion and a PE ratio of -1.35. The stock’s 50-day moving average price is $16.17. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BETA has been the topic of several research reports. Citigroup lowered 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. Cantor Fitzgerald lowered their price objective on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. BTIG Research lowered their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group lowered their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.11.

Institutional Trading of BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after purchasing an additional 685 shares during the period. Sandia Investment Management LP bought a new stake in BETA Technologies during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new stake in BETA Technologies during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies during the 4th quarter worth approximately $38,000. Finally, Wolff Wiese Magana LLC bought a new stake in BETA Technologies during the 4th quarter worth 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.