BETA Technologies (NYSE:BETA) Stock: Insider Kyle Clark Sells 10,000 Shares

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $20.66, for a total transaction of $206,600.00. Following the completion of the sale, the insider directly owned 5,115,936 shares of the company’s stock, valued at approximately $105,695,237.76. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Kyle Clark also recently made the following trade(s):

• On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.19, for a total value of $201,900.00.
• On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $21.30, for a total value of $213,000.00.
• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $22.00, for a total value of $220,000.00.
• On Tuesday, September 29th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.62, for a total value of $226,200.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.32, for a total value of $233,200.00.
• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.04, for a total value of $230,400.00.
• On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The stock was sold at an average price of $25.22, for a total value of $585,230.10.
• On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $26.74, for a total value of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.08, for a total transaction of $752,400.00.
• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The stock was sold at an average price of $24.66, for a total transaction of $438,948.00.

BETA Technologies Stock Up 2.3%

BETA stock traded up $0.46 during trading on Friday, hitting $20.96. The company had a trading volume of 1,321,011 shares, compared to its average volume of 3,778,681. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The company has a 50 day simple moving average of $22.30 and a 200-day simple moving average of $18.74. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The company had revenue of $14.66 million during the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. As a group, research analysts predict that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in shares of BETA Technologies during the first quarter valued at about $27,000. Allworth Financial LP boosted its holdings in shares of BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after buying an additional 1,286 shares in the last quarter. IFP Advisors Inc grew its position in shares of BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after buying an additional 1,528 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies in the 4th quarter worth approximately $35,000. Finally, Manchester Capital Management LLC bought a new position in shares of BETA Technologies during the 4th quarter worth approximately $38,000.

Analysts Set New Price Targets

BETA has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. Citigroup reiterated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Barclays initiated coverage on BETA Technologies in a research report on Friday. They set an “overweight” rating and a $35.00 price target on the stock. Finally, BTIG Research restated a “buy” rating and set a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BETA Technologies has a consensus rating of “Moderate Buy” and an average target price of $31.50.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.