Insider Buying: BETA Technologies (NYSE:BETA) Director Purchases $251,868.75 in Stock

BETA Technologies Inc (NYSE:BETA) Director Michael Stone bought 13,125 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average price of $19.19 per share, with a total value of $251,868.75. Following the purchase, the director owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. This represents a 0.74% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, September 1st, Michael Stone bought 12,820 shares of BETA Technologies stock. The shares were acquired at an average price of $19.58 per share, with a total value of $251,015.60.

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 twelve month low of $13.43 and a twelve month high of $39.50. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.99 billion and a PE ratio of -1.70.

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

Institutional Trading of BETA Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new stake in BETA Technologies during the 4th quarter worth approximately $77,089,000. UBS Group AG purchased a new stake in shares of BETA Technologies during the fourth quarter worth approximately $5,357,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of BETA Technologies during the fourth quarter worth $478,000. General Electric Co acquired a new stake in shares of BETA Technologies during the fourth quarter worth $644,962,000. Finally, Kingdom Financial Group LLC. purchased a new position in BETA Technologies in the 4th quarter valued at $297,000.

Analysts Set New Price Targets

BETA has been the topic of a number of research reports. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research reissued a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings lowered shares of BETA Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a report on Wednesday, August 12th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.