Liberty Street Advisors added 999,202 shares of BETA in the fourth quarter, totaling an estimated value of $28.19 million. This new position accounted for 47.15% of the fund’s assets under management. The company’s stock price was at $25.18 as of January 22, a 26% decrease from its IPO price of $34.

The SEC filing from January 23 revealed Liberty Street Advisors, Inc. acquired 999,202 shares of BETA Technologies (NYSE:BETA), establishing a new position worth $28.19 million. BETA now represents 47.15% of the fund’s assets under management. The company offers electric aircraft and advanced propulsion systems for various markets.

BETA Technologies, Inc. focuses on developing and manufacturing electric aircraft and supporting infrastructure. The company’s latest quarter showed revenue growth to $8.9 million, driven by defense services and motor deliveries. With a strong balance sheet and recent strategic investments, BETA is positioned as a key player in the electric aerospace industry.

Investors are showing confidence in BETA Technologies despite its cash burn rate. The company’s recent performance, strong balance sheet, and strategic partnerships have positioned it as a promising player in the electric aviation industry. This new position reflects a belief in the company’s long-term success.

Read more at Yahoo Finance: Why a Nearly $30 Million Bet on BETA Stock Says More Than Its 26% Post-IPO Drop