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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $15.78, for a total value of $236,700.00. Following the sale, the insider owned 5,674,837 shares in the company, valued at $89,548,927.86. The trade was a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.74, for a total transaction of $236,100.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.89, for a total transaction 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 transaction 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 transaction of $1,219,403.52.

BETA Technologies Stock Performance

Shares of BETA stock opened at $15.65 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The firm has a market cap of $3.48 billion and a price-to-earnings ratio of -1.26. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The firm’s 50-day simple moving average is $16.74 and its two-hundred day simple moving average is $20.22.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

BETA has been the subject of several research reports. Jefferies Financial Group reduced their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, May 13th. The Goldman Sachs Group cut their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Morgan Stanley decreased their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Finally, BTIG Research lowered their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BETA. Sandia Investment Management LP bought a new stake in BETA Technologies during the 4th quarter valued at $26,000. California State Teachers Retirement System bought a new position in shares of BETA Technologies in the first quarter worth $27,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the fourth quarter worth $35,000. Manchester Capital Management LLC purchased a new position in shares of BETA Technologies in the fourth quarter valued at $38,000. Finally, Wolff Wiese Magana LLC purchased a new position in shares of BETA Technologies in the fourth quarter valued at $42,000.

BETA Technologies Company Profile

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.