BETA Technologies (NYSE:BETA) Shares Down 4.8% – Should You Sell?

BETA Technologies Inc (NYSE:BETA)’s share price dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $22.74 and last traded at $22.7050. 412,940 shares changed hands during trading, a decline of 73% from the average session volume of 1,534,864 shares. The stock had previously closed at $23.84.

Analyst Ratings Changes

BETA has been the topic of a number of analyst reports. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research reissued a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC restated a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a report on Wednesday, August 12th. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Weiss Ratings cut shares of BETA Technologies from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 18th. Nine 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.11.

BETA Technologies Stock Performance

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 stock has a fifty day simple moving average of $19.80 and a two-hundred day simple moving average of $18.01. The firm has a market capitalization of $4.92 billion and a P/E ratio of -1.68.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The business had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, research analysts predict that BETA Technologies Inc will post -2.22 EPS for the current year.

Insider Activity

In related news, insider Kyle Clark sold 30,000 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00. Following the transaction, the insider directly owned 5,396,941 shares of the company’s stock, valued at $137,190,240.22. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 298,901 shares of company stock worth $6,546,418. 24.47% of the stock is owned by insiders.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in shares of BETA Technologies by 57,099.9% during the second quarter. California State Teachers Retirement System now owns 1,038,751 shares of the company’s stock valued at $17,399,000 after purchasing an additional 1,036,935 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies in the 2nd quarter valued at about $2,877,000. Parallel Advisors LLC increased its position in BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares in the last quarter. Bank of America Corp DE increased its position in BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after buying an additional 187,807 shares in the last quarter. Finally, Readystate Asset Management LP boosted its holdings 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 in the last quarter.

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.