Michael Robert Stone Acquires 12,820 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Stone bought 12,820 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was purchased at an average cost of $19.58 per share, for a total transaction of $251,015.60. Following the completion of the transaction, the director owned 1,779,869 shares of the company’s stock, valued at $34,849,835.02. This represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Michael Robert Stone also recently made the following trade(s):

• On Wednesday, September 2nd, Michael Stone purchased 13,125 shares of BETA Technologies stock. The shares were purchased at an average price of $19.19 per share, for a total transaction of $251,868.75.

BETA Technologies Stock Up 6.4%

Shares of NYSE:BETA opened at $22.14 on Friday. The firm has a 50 day simple moving average of $20.47 and a 200 day simple moving average of $18.16. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The company has a market cap of $4.99 billion and a PE ratio of -1.70.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The firm had revenue of $14.66 million for the quarter. As a group, research analysts expect that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC raised its holdings in shares of BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter. Sandia Investment Management LP purchased a new position in BETA Technologies in the fourth quarter valued at about $26,000. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the 4th quarter worth about $35,000. Manchester Capital Management LLC acquired a new position in BETA Technologies in the 4th quarter worth about $38,000. Finally, California State Teachers Retirement System purchased a new stake in shares of BETA Technologies during the 1st quarter worth about $27,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. BTIG Research reiterated a “buy” rating and set a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Weiss Ratings downgraded BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Nine equities 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

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.