Key Points
- COO Sean Donovan sold 16,483 shares for about $461,689, a 6.24% reduction in his holdings; the filing says the sale covered tax withholding on vested equity awards. He retained 247,656 shares and also sold 6,684 shares the following day.
- BETA shares recently traded at $23.29, within a 52-week range of $13.43 to $32.80. The company reported quarterly revenue of $17.67 million, up 98.6% year over year, and an EPS loss of $0.51—narrower than analysts’ expected loss of $0.54.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $30.70; recent targets ranged from $27 to $35, while Jefferies downgraded the stock to Hold.
BETA Technologies Inc (NYSE:BETA - Get Free Report) COO Sean Donovan sold 6,684 shares of the business's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $28.38, for a total value of $189,691.92. Following the completion of the sale, the chief operating officer owned 240,972 shares in the company, valued at $6,838,785.36. This represents a 2.70% decrease in their position. The transaction 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.
Sean Donovan also recently made the following trade(s):
- On Tuesday, November 10th, Sean Donovan sold 16,483 shares of BETA Technologies stock. The stock was sold at an average price of $28.01, for a total value of $461,688.83.
BETA Technologies Trading Down 7.4%
BETA traded down $1.87 during mid-day trading on Friday, hitting $23.29. 2,478,586 shares of the stock were exchanged, compared to its average volume of 1,991,854. The firm's fifty day moving average is $21.60 and its two-hundred day moving average is $19.08. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $32.80. The company has a market cap of $5.27 billion and a PE ratio of -6.29. The company has a current ratio of 11.51, a quick ratio of 11.51 and a debt-to-equity ratio of 0.11.
BETA Technologies (NYSE:BETA - Get Free Report) last released its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.03. The company had revenue of $17.67 million during the quarter. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The business's revenue was up 98.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($9.83) earnings per share. Equities analysts forecast that BETA Technologies Inc will post -2.22 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have recently issued reports on BETA shares. Cantor Fitzgerald reissued an "overweight" rating and set a $31.00 price target on shares of BETA Technologies in a research report on Wednesday, November 4th. Jefferies Financial Group cut shares of BETA Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the company from $29.00 to $27.00 in a report on Monday, November 9th. BTIG Research reaffirmed a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a research note on Friday, November 6th. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Finally, Wall Street Zen cut shares of BETA Technologies from a "hold" rating to a "sell" rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, BETA Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $30.70.
Get Our Latest Report on BETA Technologies
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in BETA Technologies in the first quarter valued at $1,162,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in BETA Technologies in the third quarter valued at $2,905,000. Masters Capital Management LLC acquired a new stake in BETA Technologies in the first quarter valued at $10,290,000. Quantinno Capital Management LP acquired a new stake in BETA Technologies in the first quarter valued at $1,115,000. Finally, Corient Private Wealth LP lifted its holdings in BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock worth $2,531,000 after buying an additional 81,150 shares during the last quarter.
BETA Technologies Company Profile
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Get Free Report)
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.
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