BETA Technologies (NYSE:BETA) Insider Kyle Clark Sells 15,000 Shares of Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $15.74, for a total value of $236,100.00. Following the completion of the transaction, the insider directly owned 5,659,837 shares in the company, valued at approximately $89,085,834.38. This trade represents a 0.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.78, for a total value of $236,700.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.89, for a total value of $238,350.00.
• 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.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52.

BETA Technologies Stock Performance

Shares of BETA Technologies stock opened at $15.87 on Wednesday. The firm has a market cap of $3.53 billion and a P/E ratio of -1.28. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. The stock’s fifty day moving average price is $16.77 and its 200-day moving average price is $20.32.

BETA Technologies (NYSE:BETA) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BETA has been the subject of several recent research reports. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Morgan Stanley cut their price objective on shares of 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 issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. Citigroup reduced their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Cantor Fitzgerald lowered their target price on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.11.

Hedge Funds Weigh In On BETA Technologies

A number of large investors have recently added to or reduced their stakes in BETA. Parallel Advisors LLC boosted its holdings in shares of BETA Technologies by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares in the last quarter. Bank of America Corp DE raised its stake in shares of BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after acquiring an additional 187,807 shares in the last quarter. California State Teachers Retirement System purchased a new stake in BETA Technologies during the first quarter valued at approximately $27,000. Readystate Asset Management LP lifted its position in BETA Technologies by 19.0% during the first quarter. Readystate Asset Management LP now owns 25,000 shares of the company’s stock valued at $368,000 after acquiring an additional 4,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in BETA Technologies by 246.2% during the first quarter. The Manufacturers Life Insurance Company now owns 34,186 shares of the company’s stock valued at $503,000 after acquiring an additional 24,312 shares during the last quarter.

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.