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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $26.39, for a total transaction of $263,900.00. Following the completion of the transaction, the insider directly owned 4,915,936 shares of the company’s stock, valued at approximately $129,731,551.04. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $28.05, for a total value of $280,500.00.
• On Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $24.90, for a total value of $249,000.00.
• On Monday, November 2nd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.69, for a total value of $206,900.00.
• On Friday, October 30th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.92, for a total value of $199,200.00.
• On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.24, for a total value of $202,400.00.
• On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.19, for a total value of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.76, for a total value of $197,600.00.
• 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 shares were sold at an average price of $18.51, for a total value of $185,100.00.

BETA Technologies Stock Performance

NYSE:BETA opened at $28.54 on Tuesday. The firm has a market capitalization of $6.46 billion and a PE ratio of -7.71. The stock’s fifty day moving average is $21.13 and its 200 day moving average is $19.05. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $36.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 11.51.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.03. The company 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%. The firm’s quarterly revenue was up 98.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($9.83) earnings per share. On average, sell-side analysts anticipate that BETA Technologies Inc will post -2.24 earnings per share for the current year.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the business. Masters Capital Management LLC purchased a new position in BETA Technologies during the 1st quarter valued at $10,290,000. Bank of America Corp DE increased its stake 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 worth $5,117,000 after purchasing an additional 187,807 shares during the period. Bank of New York Mellon Corp purchased a new stake in BETA Technologies in the second quarter worth $2,877,000. Corient Private Wealth LP increased its stake in BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after purchasing an additional 81,150 shares during the period. Finally, Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of BETA Technologies during the third quarter worth $2,905,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BETA. BTIG Research restated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a report on Friday. Wall Street Zen raised 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 report on Monday, September 14th. Needham & Company LLC reduced their price objective on shares of BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Finally, Jefferies Financial Group lowered shares of BETA Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research report on Monday. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BETA Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $30.70.

BETA Technologies Company Profile

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.

The company also develops charging systems intended to support electric aviation operations.