Kyle Clark Sells 67,296 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 67,296 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $18.12, for a total value of $1,219,403.52. Following the completion of the sale, the insider directly owned 748,915 shares in the company, valued at $13,570,339.80. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $89,965.80.

BETA Technologies Stock Performance

Shares of NYSE:BETA traded down $0.17 during trading on Monday, hitting $18.52. 2,196,627 shares of the stock were exchanged, compared to its average volume of 1,428,809. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50. The stock has a market capitalization of $4.10 billion and a P/E ratio of -1.56. The company has a fifty day moving average price of $16.80. The company has a quick ratio of 22.77, a current ratio of 22.77 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Monday, March 9th. The company reported ($2.02) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($1.55). The firm had revenue of $11.13 million during the quarter, compared to the consensus estimate of $6.69 million. The company’s revenue for the quarter was up 152.3% on a year-over-year basis. On average, research analysts forecast that BETA Technologies Inc will post -2.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and set a $40.00 price objective on shares of BETA Technologies in a report on Tuesday, March 10th. Morgan Stanley decreased their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective on shares of BETA Technologies in a report on Monday, March 9th. Citigroup decreased their price objective on BETA Technologies from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. Finally, Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.56.

Hedge Funds Weigh In On BETA Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in shares of BETA Technologies during the 4th quarter worth approximately $6,349,000. Liberty Street Advisors Inc. acquired a new position in BETA Technologies in the fourth quarter worth $28,187,000. Pictet Asset Management Holding SA acquired a new position in BETA Technologies in the fourth quarter worth $10,896,000. SG Americas Securities LLC acquired a new position in BETA Technologies in the fourth quarter worth $1,386,000. Finally, Wolff Wiese Magana LLC acquired a new position in BETA Technologies in the fourth quarter worth $42,000.

About BETA Technologies

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.