BETA Technologies (NYSE:BETA) Shares Down 5.8% – What’s Next?

BETA Technologies Inc (NYSE:BETA)’s stock price fell 5.8% during trading on Tuesday. The company traded as low as $18.69 and last traded at $18.6720. Approximately 337,074 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 1,806,946 shares. The stock had previously closed at $19.82.

Wall Street Analyst Weigh In

BETA has been the subject of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a report on Monday, October 5th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, August 12th. Barclays began coverage on BETA Technologies in a research note on Friday. They set an “overweight” rating and a $35.00 price objective for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

BETA Technologies Stock Down 6.6%

The company’s fifty day simple moving average is $22.31 and its 200-day simple moving average is $18.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The firm has a market capitalization of $4.17 billion and a PE ratio of -1.42.

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

Insider Buying and Selling at BETA Technologies

In other BETA Technologies news, Director Michael Stone purchased 13,125 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $19.19 per share, for a total transaction of $251,868.75. Following the completion of the purchase, the director owned 1,792,994 shares in the company, valued at $34,407,554.86. This represents a 0.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kyle Clark sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.42, for a total value of $762,600.00. Following the completion of the sale, the insider directly owned 5,396,941 shares of the company’s stock, valued at approximately $137,190,240.22. This represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 263,901 shares of company stock worth $6,374,618. 24.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BETA. Rockefeller Capital Management L.P. acquired a new stake in BETA Technologies in the 4th quarter worth approximately $35,000. Allworth Financial LP grew its position in BETA Technologies by 257.2% during the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after purchasing an additional 1,286 shares during the last quarter. IFP Advisors Inc increased its stake in BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares in the last quarter. California State Teachers Retirement System acquired a new position in BETA Technologies during the 1st quarter valued at approximately $27,000. Finally, Parallel Advisors LLC increased its stake in BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after purchasing an additional 685 shares in the last quarter.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.