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 Wednesday, October 14th. The stock was sold at an average price of $17.58, for a total transaction of $175,800.00. Following the transaction, the insider directly owned 5,085,936 shares in the company, valued at approximately $89,410,754.88. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 stock was 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 shares were 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 stock was sold at an average price of $22.62, for a total value of $226,200.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.32, for a total value of $233,200.00.
• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.04, for a total transaction of $230,400.00.
• On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10.
• On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $26.74, for a total transaction of $802,200.00.

BETA Technologies Stock Down 3.0%

Shares of BETA traded down $0.55 during mid-day trading on Wednesday, hitting $17.66. The company’s stock had a trading volume of 1,783,148 shares, compared to its average volume of 3,641,113. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average is $22.14 and its 200-day moving average is $18.84. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The firm has a market capitalization of $3.98 billion and a price-to-earnings ratio of -1.36.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The business had revenue of $14.66 million for the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. On average, equities research analysts forecast that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

A number of institutional investors have recently bought and sold shares of BETA. Masters Capital Management LLC purchased a new stake in BETA Technologies during the 1st quarter worth approximately $10,290,000. Granahan Investment Management LLC purchased a new position in shares of BETA Technologies in the fourth quarter worth $12,366,000. Bank of America Corp DE raised its holdings in shares of 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 buying an additional 187,807 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies during the second quarter worth $2,877,000. Finally, Corient Private Wealth LP lifted its stake in shares of BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after buying an additional 81,150 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on BETA shares. Barclays initiated coverage on shares of BETA Technologies in a research report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price objective on the stock. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. 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, August 12th. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Monday, October 5th. Ten investment 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. According to data from MarketBeat, BETA Technologies has a consensus rating of “Moderate Buy” and an average 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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.