BETA Technologies (NYSE:BETA) Shares Gap Up – Time to Buy?

BETA Technologies Inc (NYSE:BETA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $18.56, but opened at $19.48. BETA Technologies shares last traded at $18.34, with a volume of 559,085 shares.

Wall Street Analysts Forecast Growth

BETA has been the subject of a number of research reports. UBS Group set a $24.00 target price on BETA Technologies and gave the company a “buy” rating in a research report on Monday, February 9th. Cantor Fitzgerald lowered their price objective on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group reduced their target price on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Citigroup decreased their target price 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. Finally, BTIG Research reduced their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Nine investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.11.

BETA Technologies Trading Down 0.1%

The company’s 50 day moving average price is $16.33 and its two-hundred day moving average price is $21.56. The firm has a market cap of $4.12 billion and a PE ratio of -1.50. 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 released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) 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. BETA Technologies’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that BETA Technologies Inc will post -2.13 EPS for the current year.

Insider Transactions at BETA Technologies

In other BETA Technologies news, CFO Herman Cueto sold 18,586 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $336,778.32. Following the completion of the sale, the chief financial officer directly owned 90,465 shares of the company’s stock, valued at $1,639,225.80. The trade was a 17.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sean Donovan sold 19,008 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $344,424.96. Following the transaction, the chief operating officer directly owned 176,195 shares in the company, valued at approximately $3,192,653.40. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 138,928 shares of company stock valued at $2,517,375. Company insiders own 24.47% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of 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 buying an additional 685 shares during the period. Bank of America Corp DE raised its holdings in shares of BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after acquiring an additional 187,807 shares in the last quarter. California State Teachers Retirement System purchased a new stake in BETA Technologies in the first quarter worth about $27,000. Readystate Asset Management LP lifted its stake in BETA Technologies by 19.0% in the first quarter. Readystate Asset Management LP now owns 25,000 shares of the company’s stock worth $368,000 after acquiring an additional 4,000 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in BETA Technologies by 246.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 34,186 shares of the company’s stock valued at $503,000 after purchasing an additional 24,312 shares during the period.

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.