Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells 10,000 Shares of Company Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $19.76, for a total value 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 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 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 stock was 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 transaction 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 transaction 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 transaction 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 transaction of $206,600.00.
• On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.19, for a total transaction 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 Price Performance

Shares of BETA Technologies stock traded up $0.90 during trading hours 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. The stock’s 50 day moving average is $21.41 and its 200 day moving average is $19.34. The firm has a market capitalization of $4.67 billion and a PE ratio of -1.59. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA) last posted its earnings results 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 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%. Equities analysts expect that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BETA. Wall Street Zen cut shares of BETA Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research report on Monday, October 5th. Barclays initiated coverage on shares of BETA Technologies in a report on Friday, October 9th. They set an “overweight” rating and a $35.00 price objective on the stock. BTIG Research reiterated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new position in BETA Technologies in the 1st quarter valued at $1,162,000. Masters Capital Management LLC acquired a new stake in BETA Technologies during the 1st quarter worth $10,290,000. Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in shares of BETA Technologies during the third quarter worth $2,905,000. Quantinno Capital Management LP purchased a new stake in shares of BETA Technologies during the first quarter worth $1,115,000. Finally, Corient Private Wealth LP raised its position in shares of BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock valued at $2,531,000 after buying an additional 81,150 shares during the last quarter.

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.