Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $263,900.00 in Stock

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

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 transaction 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 transaction of $199,200.00.
• On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.24, for a total transaction of $202,400.00.
• On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.19, for a total transaction of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.76, for a total transaction 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 transaction of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.11, for a total transaction 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.

BETA Technologies Trading Up 5.3%

Shares of BETA stock traded up $1.42 during trading hours on Monday, reaching $28.54. The company had a trading volume of 2,862,013 shares, compared to its average volume of 1,834,232. The company has a 50 day moving average of $20.96 and a 200 day moving average of $19.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51. The firm has a market cap of $6.46 billion and a price-to-earnings ratio of -7.71. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $36.43.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The business had revenue of $17.67 million for the quarter. During the same quarter in the prior year, the business earned ($9.83) earnings per share. The firm’s revenue for the quarter was up 98.6% on a year-over-year basis. On average, equities research analysts anticipate that BETA Technologies Inc will post -2.24 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays began coverage on BETA Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $35.00 target price for the company. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. 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 note on Wednesday, November 4th. Finally, Citigroup restated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.70.

Institutional Trading of BETA Technologies

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the fourth quarter valued at about $35,000. Allworth Financial LP increased its holdings in shares of BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after acquiring an additional 1,286 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock worth $30,000 after acquiring an additional 1,528 shares in the last quarter. Finally, California State Teachers Retirement System bought a new stake in shares of BETA Technologies in the first quarter worth about $27,000.

About BETA Technologies

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.