BETA Technologies (NYSE:BETA) Shares Up 11.8% – What’s Next?

Shares of BETA Technologies Inc (NYSE:BETA) shot up 11.8% 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on BETA. BTIG Research lowered their target price on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. UBS Group set a $24.00 target price on BETA Technologies and gave the stock a “buy” rating in a report on Monday, February 9th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Jefferies Financial Group lowered their target price on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a report on Wednesday, May 13th. Nine 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 MarketBeat.com, BETA Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $31.11.

BETA Technologies Stock Up 9.9%

The company has a market capitalization of $4.11 billion and a P/E ratio of -1.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The firm’s 50-day moving average is $16.16.

BETA Technologies (NYSE:BETA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts predict that BETA Technologies Inc will post -2.13 EPS for the current year.

Insider Buying and Selling at BETA Technologies

In other BETA Technologies news, Director Michael Robert Stone purchased 17,135 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were acquired at an average cost of $14.59 per share, for a total transaction of $249,999.65. Following the completion of the acquisition, the director owned 1,767,049 shares of the company’s stock, valued at $25,781,244.91. The trade was a 0.98% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Herman Cueto sold 18,586 shares of BETA Technologies stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $336,778.32. Following the sale, the chief financial officer owned 90,465 shares in the company, valued at $1,639,225.80. This trade represents a 17.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 138,928 shares of company stock valued at $2,517,375 in the last ninety days. 24.47% of the stock is owned by corporate insiders.

Institutional Trading of BETA Technologies

Hedge funds have recently bought and sold shares of the business. Sandia Investment Management LP bought a new stake in BETA Technologies during the fourth quarter worth $26,000. California State Teachers Retirement System bought a new stake in shares of BETA Technologies in the first quarter valued at $27,000. Rockefeller Capital Management L.P. bought a new stake in shares of BETA Technologies in the fourth quarter valued at $35,000. Manchester Capital Management LLC bought a new stake in shares of BETA Technologies in the fourth quarter valued at $38,000. Finally, Wolff Wiese Magana LLC bought a new stake in shares of BETA Technologies in the fourth quarter valued at $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.