BETA Technologies (NYSE:BETA) Insider Sells $175,800.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $17.58, for a total transaction of $175,800.00. Following the transaction, the insider directly owned 5,085,936 shares in the company, valued at approximately $89,410,754.88. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.91, for a total transaction of $199,100.00.
• On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.66, for a total transaction of $206,600.00.
• On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.19, for a total transaction 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 transaction of $213,000.00.
• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.00, for a total transaction 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 transaction of $226,200.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was 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 stock was 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 shares were sold at an average price of $26.74, for a total value of $802,200.00.

BETA Technologies Price Performance

Shares of NYSE BETA traded down $0.73 during midday trading on Friday, hitting $18.07. The stock had a trading volume of 1,405,765 shares, compared to its average volume of 3,418,954. The company has a market capitalization of $4.07 billion and a PE ratio of -1.39. The stock has a 50 day simple moving average of $21.95 and a 200-day simple moving average of $18.87. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The firm had revenue of $14.66 million during the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, sell-side analysts expect that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On BETA Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its stake in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after buying an additional 685 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in BETA Technologies in the 4th quarter valued at $35,000. Allworth Financial LP grew its holdings in 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 increased its stake 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 acquiring an additional 1,528 shares during the last quarter. Finally, California State Teachers Retirement System acquired a new stake in shares of BETA Technologies in the 1st quarter worth $27,000.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays initiated coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.50.

About BETA Technologies

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.