200,000 Shares in BETA Technologies Inc $BETA Bought by Telemark Asset Management LLC

Telemark Asset Management LLC bought a new position in shares of BETA Technologies Inc (NYSE:BETA) in the fourth quarter, HoldingsChannel reports. The firm bought 200,000 shares of the company’s stock, valued at approximately $5,642,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BETA. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies during the fourth quarter worth $42,000. Parallel Advisors LLC bought a new position in BETA Technologies during the fourth quarter valued at $74,000. Clean Yield Group bought a new position in BETA Technologies during the fourth quarter valued at $235,000. Kingdom Financial Group LLC. bought a new position in BETA Technologies during the fourth quarter valued at $297,000. Finally, Stratos Wealth Partners LTD. bought a new position in BETA Technologies during the fourth quarter valued at $360,000.

Insiders Place Their Bets

In other news, insider Kyle Clark sold 4,965 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $89,965.80. Following the sale, the insider owned 49,746 shares of the company’s stock, valued at approximately $901,397.52. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone bought 17,135 shares of BETA Technologies stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the purchase, the director owned 1,767,049 shares of the company’s stock, valued at approximately $25,781,244.91. This trade represents a 0.98% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 138,928 shares of company stock valued at $2,517,375. 24.47% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on BETA shares. UBS Group set a $24.00 price objective on shares of BETA Technologies and gave the company a “buy” rating in a research report on Monday, February 9th. BTIG Research lowered their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. 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. The Goldman Sachs Group lowered their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, Jefferies Financial Group lowered their price objective on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. 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 stock. According to data from MarketBeat, BETA Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Price Performance

BETA stock opened at $17.13 on Friday. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The company has a fifty day simple moving average of $16.57 and a two-hundred day simple moving average of $21.22. The firm has a market capitalization of $3.81 billion and a P/E ratio of -1.38.

BETA Technologies (NYSE:BETA) last announced 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. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts anticipate that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

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.