Beta Technologies Inc's stock surged 5.01% during intraday trading on Monday, following news that the company was selected for a significant U.S. government-backed air-taxi pilot program.

The electric aerospace company, along with peers Joby Aviation and Archer Aviation, will launch electrically powered air-taxi trials in more than two dozen U.S. states. The selection came from the U.S. Department of Transportation's advanced air mobility and electric vertical takeoff and landing (eVTOL) integration pilot program, which aims to assess aircraft in active public settings before pursuing full Federal Aviation Administration certification.

The positive movement also follows the company's recent fourth-quarter earnings report, which showed revenue of $11.1 million, beating analyst expectations, and forward guidance for 2026 revenue of $39 million to $43 million, ahead of Wall Street projections. Analyst sentiment remains positive, with Needham maintaining a Buy rating and a $34 price target on the stock.