BETA Technologies (NYSE:BETA) Stock Price Down 5.8% – What’s Next?

BETA Technologies Inc (NYSE:BETA) shares traded down 5.8% during trading on Tuesday. The company traded as low as $18.69 and last traded at $18.6720. 337,074 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 1,806,946 shares. The stock had previously closed at $19.82.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Barclays initiated coverage on BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a report on Monday, October 5th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Ten 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.50.

BETA Technologies Stock Performance

The stock’s 50 day moving average is $22.14 and its two-hundred day moving average is $18.84. The firm has a market capitalization of $3.98 billion and a P/E ratio of -1.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data 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). BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. The business had revenue of $14.66 million during the quarter. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Insider Buying and Selling at BETA Technologies

In related news, Director Michael Stone purchased 13,125 shares of BETA Technologies stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average cost of $19.19 per share, for a total transaction of $251,868.75. Following the transaction, the director directly owned 1,792,994 shares of the company’s stock, valued at approximately $34,407,554.86. This trade represents a 0.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $17.58, for a total value of $175,800.00. Following the sale, the insider directly owned 5,085,936 shares of the company’s stock, valued at approximately $89,410,754.88. This trade represents a 0.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 283,901 shares of company stock valued at $6,749,518 in the last quarter. Corporate insiders own 24.47% of the company’s stock.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds have recently added to or reduced their stakes in BETA. Cliftonlarsonallen Wealth Advisors LLC bought a new position in BETA Technologies during the 3rd quarter worth approximately $2,905,000. Triumph Capital Management acquired a new position in BETA Technologies during the third quarter valued at approximately $308,000. Farther Finance Advisors LLC grew its holdings in BETA Technologies by 275.0% during the third quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company’s stock valued at $102,000 after purchasing an additional 3,388 shares during the period. Integrated Wealth Concepts LLC bought a new stake in BETA Technologies in the second quarter valued at approximately $235,000. Finally, IFP Advisors Inc raised its holdings in BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after purchasing an additional 1,528 shares during the period.

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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.