BETA Technologies (NYSE:BETA) Shares Gap Down – What’s Next?

Shares of BETA Technologies Inc (NYSE:BETA) gapped down prior to trading on Monday. The stock had previously closed at $27.12, but opened at $26.10. BETA Technologies shares last traded at $28.1940, with a volume of 415,667 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BETA shares. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Citigroup reissued a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research report on Wednesday, November 4th. Needham & Company LLC lowered their target price on shares of BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Finally, Barclays assumed coverage on shares of BETA Technologies in a report on Friday, October 9th. They set an “overweight” rating and a $35.00 target price on the stock. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.

BETA Technologies Stock Up 2.6%

The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51. The company has a market cap of $6.30 billion and a P/E ratio of -7.50. The stock has a 50-day moving average of $20.96 and a 200 day moving average of $19.04.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The business had revenue of $17.67 million during the quarter. During the same period last year, the firm earned ($9.83) EPS. The firm’s revenue for the quarter was up 98.6% compared to the same quarter last year. Research analysts anticipate that BETA Technologies Inc will post -2.24 earnings per share for the current year.

Insider Activity

In related news, insider Kyle Clark sold 30,000 shares of the stock in a transaction that occurred 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 sale, the insider owned 5,396,941 shares in the company, valued at approximately $137,190,240.22. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael Stone purchased 13,125 shares of BETA Technologies stock in a transaction that occurred on Wednesday, September 2nd. The shares were purchased at an average price of $19.19 per share, for a total transaction of $251,868.75. Following the transaction, the director directly owned 1,792,994 shares in the company, valued at $34,407,554.86. This represents a 0.74% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 343,010 shares of company stock worth $7,819,370. Insiders own 24.47% of the company’s stock.

Institutional Investors Weigh In On BETA Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in BETA. Parallel Advisors LLC boosted its holdings in shares of 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 purchasing an additional 685 shares in the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Allworth Financial LP increased its stake in shares of BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after purchasing an additional 1,286 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after buying an additional 1,528 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new position in shares of BETA Technologies during the 1st quarter worth $27,000.

About BETA Technologies

BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer.

Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.

The company also develops charging systems intended to support electric aviation operations.