BETA Technologies (NYSE:BETA) Posts Earnings Results, Beats Estimates By $0.03 EPS

BETA Technologies (NYSE:BETA) released its quarterly earnings results on Tuesday. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.03, Zacks reports. The business had revenue of $17.67 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The company’s quarterly revenue was up 98.6% compared to the same quarter last year. During the same period last year, the firm earned ($9.83) EPS.

BETA Technologies Stock Up 11.3%

Shares of NYSE:BETA opened at $22.68 on Tuesday. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies has a 52-week low of $13.43 and a 52-week high of $39.50. The stock’s fifty day simple moving average is $20.76 and its 200-day simple moving average is $19.10. The company has a market capitalization of $5.11 billion and a P/E ratio of -1.74.

Insider Activity at BETA Technologies

In related news, insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the completion of the sale, the insider owned 4,965,936 shares in the company, valued at approximately $98,921,445.12. This trade represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 353,901 shares of company stock worth $8,097,418 over the last quarter. 24.47% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BETA shares. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Barclays started coverage on shares of BETA Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. BTIG Research reiterated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.50.

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 South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.