BETA Technologies (NYSE:BETA) Trading 11.8% Higher – Should You Buy?

BETA Technologies Inc (NYSE:BETA)’s share price traded up 11.8% during mid-day trading on Thursday . The company traded as high as $18.64 and last traded at $18.8150. 993,249 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 1,469,149 shares. The stock had previously closed at $16.83.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BETA. BTIG Research cut 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 report on Wednesday, May 20th. Citigroup lowered their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their price objective on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, UBS Group set a $24.00 target price on shares of BETA Technologies and gave the company a “buy” rating in a report on Monday, February 9th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $31.11.

BETA Technologies Trading Down 0.2%

The stock has a market cap of $4.06 billion and a PE ratio of -1.48. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The firm has a fifty day simple moving average of $16.29 and a two-hundred day simple moving average of $21.68.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kyle Clark sold 67,296 shares of BETA Technologies stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total transaction of $1,219,403.52. Following the completion of the sale, the insider directly owned 748,915 shares of the company’s stock, valued at approximately $13,570,339.80. The trade was a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Sean Donovan sold 19,008 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total transaction of $344,424.96. Following the completion of the transaction, the chief operating officer owned 176,195 shares of the company’s stock, valued at $3,192,653.40. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 138,928 shares of company stock worth $2,517,375. 24.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BETA Technologies

Hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in shares of BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares in the last quarter. Sandia Investment Management LP purchased a new stake in BETA Technologies in the fourth quarter worth approximately $26,000. Rockefeller Capital Management L.P. purchased a new stake in BETA Technologies in the fourth quarter worth approximately $35,000. Manchester Capital Management LLC bought a new position in BETA Technologies during the fourth quarter valued at approximately $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies during the fourth quarter worth approximately $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.