Granahan Investment Management LLC Makes New $12.37 Million Investment in BETA Technologies Inc $BETA

Granahan Investment Management LLC bought a new position in shares of BETA Technologies Inc (NYSE:BETA) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 438,351 shares of the company’s stock, valued at approximately $12,366,000.

Several other hedge funds have also recently bought and sold shares of BETA. General Electric Co acquired a new stake in BETA Technologies during the 4th quarter worth approximately $644,962,000. TPG GP A LLC acquired a new stake in BETA Technologies during the 4th quarter worth approximately $462,515,000. Amazon Com Inc. acquired a new stake in BETA Technologies during the 4th quarter worth approximately $331,577,000. Vanguard Group Inc. acquired a new stake in BETA Technologies during the 4th quarter worth approximately $77,089,000. Finally, Norges Bank acquired a new stake in BETA Technologies during the 4th quarter worth approximately $41,485,000.

BETA Technologies Price Performance

NYSE:BETA opened at $15.77 on Wednesday. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50. 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 firm has a fifty day simple moving average of $16.81 and a 200 day simple moving average of $20.73. The stock has a market capitalization of $3.50 billion and a PE ratio of -1.27.

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

Insiders Place Their Bets

In related news, COO Sean Donovan sold 19,008 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value 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 approximately $3,192,653.40. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kyle Clark sold 67,296 shares of BETA Technologies stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $1,219,403.52. Following the transaction, the insider directly owned 748,915 shares of the company’s stock, valued at approximately $13,570,339.80. This trade represents a 8.24% 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. Insiders sold 138,928 shares of company stock valued at $2,517,375 in the last ninety days. 24.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on BETA shares. Morgan Stanley dropped their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. Jefferies Financial Group dropped 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 dropped their target price on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald decreased their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.