BETA Technologies (NYSE:BETA) Shares Up 7.1% – Still a Buy?

BETA Technologies Inc (NYSE:BETA) shot up 7.1% during mid-day trading on Monday . The company traded as high as $18.68 and last traded at $19.0290. 374,495 shares were traded during trading, a decline of 74% from the average daily volume of 1,468,086 shares. The stock had previously closed at $17.76.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Cantor Fitzgerald cut their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Citigroup lowered their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Needham & Company LLC restated a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, May 13th. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, BTIG Research reduced their target price on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

BETA Technologies Price Performance

The company has a market cap of $4.34 billion and a P/E ratio of -1.58. The company has a fifty day moving average price of $17.02 and a two-hundred day moving average price of $18.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that BETA Technologies Inc will post -2.17 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Kyle Clark sold 67,296 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $1,219,403.52. Following the sale, the insider owned 748,915 shares in the company, valued at $13,570,339.80. This represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Robert Stone acquired 17,135 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was bought at an average cost of $14.59 per share, with a total value of $249,999.65. Following the acquisition, the director owned 1,767,049 shares in the company, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 243,928 shares of company stock worth $4,220,475. Corporate insiders own 24.47% of the company’s stock.

Institutional Trading of BETA Technologies

Large investors have recently added to or reduced their stakes in the company. Sandia Investment Management LP acquired a new position in shares of BETA Technologies during the 4th quarter worth about $26,000. California State Teachers Retirement System bought a new stake in shares of BETA Technologies in the 1st quarter valued at about $27,000. Rockefeller Capital Management L.P. acquired a new stake in BETA Technologies in the 4th quarter valued at about $35,000. Manchester Capital Management LLC acquired a new stake in BETA Technologies in the 4th quarter valued at about $38,000. Finally, Wolff Wiese Magana LLC bought a new position in BETA Technologies during the fourth quarter worth about $42,000.

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.