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 that occurred on Monday, October 26th. The stock was sold at an average price of $19.76, for a total transaction of $197,600.00. Following the completion of the transaction, the insider directly owned 5,005,936 shares in the company, valued at $98,917,295.36. This trade represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.06, for a total value of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.11, for a total value of $181,100.00.
• On Friday, October 16th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.51, for a total value of $185,100.00.
• On Wednesday, October 14th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $17.58, for a total value of $175,800.00.
• On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.91, for a total value of $199,100.00.
• On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.66, for a total value 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 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 transaction of $226,200.00.

BETA Technologies Trading Up 4.5%

Shares of BETA traded up $0.90 during mid-day trading on Tuesday, reaching $20.72. The stock had a trading volume of 1,870,968 shares, compared to its average volume of 1,804,510. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The firm has a market cap of $4.67 billion and a price-to-earnings ratio of -1.59. The business’s fifty day moving average is $21.41 and its 200 day moving average is $19.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

BETA Technologies (NYSE:BETA) last issued its earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The firm had revenue of $14.66 million for 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 predict that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Hedge Funds Weigh In On BETA Technologies

Several large investors have recently made changes to their positions in BETA. Masters Capital Management LLC purchased a new position in shares of BETA Technologies during the 1st quarter worth approximately $10,290,000. Bank of America Corp DE raised its position in BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after purchasing an additional 187,807 shares during the period. Bank of New York Mellon Corp acquired a new position in BETA Technologies during the second quarter worth $2,877,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in BETA Technologies during the third quarter worth $2,905,000. Finally, Squarepoint Ops LLC acquired a new position in BETA Technologies during the second quarter worth $2,045,000.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Wall Street Zen cut BETA Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays began coverage on BETA Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Citigroup restated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Ten research 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, the company has an average rating of “Moderate Buy” and a consensus target price 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 South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.