BETA Technologies (NYSE:BETA) COO Sells $461,688.83 in Stock

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 16,483 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $28.01, for a total value of $461,688.83. Following the transaction, the chief operating officer directly owned 247,656 shares in the company, valued at $6,936,844.56. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Wednesday, November 11th, Sean Donovan sold 6,684 shares of BETA Technologies stock. The stock was sold at an average price of $28.38, for a total value of $189,691.92.

BETA Technologies Stock Down 7.4%

Shares of BETA Technologies stock traded down $1.87 on Friday, reaching $23.29. 2,477,231 shares of the company were exchanged, compared to its average volume of 1,837,066. The company has a market capitalization of $5.27 billion and a price-to-earnings 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 Inc has a one year low of $13.43 and a one year high of $32.80. The company has a 50-day moving average of $21.55 and a 200 day moving average of $19.09.

BETA Technologies (NYSE:BETA) 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 business had revenue of $17.67 million during the quarter. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. BETA Technologies’s quarterly revenue was up 98.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($9.83) earnings per share. On average, equities research analysts forecast that BETA Technologies Inc will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On BETA Technologies

A number of large investors have recently added to or reduced their stakes in BETA. Bank of New York Mellon Corp acquired a new position in BETA Technologies in the 1st quarter valued at about $1,162,000. Cliftonlarsonallen Wealth Advisors LLC bought a new position in BETA Technologies in the 3rd quarter valued at about $2,905,000. Masters Capital Management LLC acquired a new stake in BETA Technologies during the first quarter worth approximately $10,290,000. Quantinno Capital Management LP acquired a new stake in BETA Technologies during the first quarter worth approximately $1,115,000. Finally, Corient Private Wealth LP lifted its position in BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after acquiring an additional 81,150 shares during the last quarter.

Analysts Set New Price Targets

BETA has been the subject of a number of recent analyst reports. Barclays assumed coverage on shares of BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target for the company. BTIG Research restated a “buy” rating and set a $33.00 price objective on shares of BETA Technologies in a research note on Friday, November 6th. Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Finally, Jefferies Financial Group cut BETA Technologies from a “buy” rating to a “hold” rating and reduced their price target for the stock from $29.00 to $27.00 in a report on Monday. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.

About BETA Technologies

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.