BETA Technologies (NYSE:BETA) Insider Kyle Clark Sells 10,000 Shares of Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $28.05, for a total transaction of $280,500.00. Following the transaction, the insider owned 4,905,936 shares in the company, valued at $137,611,504.80. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, November 6th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $26.39, for a total transaction of $263,900.00.
• 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 transaction 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 shares were 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 shares were 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 stock was 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 stock was 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 shares were sold at an average price of $18.51, for a total transaction of $185,100.00.

BETA Technologies Price Performance

Shares of BETA opened at $28.54 on Tuesday. The firm has a fifty day simple moving average of $21.13 and a two-hundred day simple moving average of $19.05. The firm has a market cap of $6.46 billion and a PE ratio of -7.71. The company has a current ratio of 11.51, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $36.43.

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

Hedge Funds Weigh In On BETA Technologies

A number of institutional investors have recently bought and sold shares of BETA. California State Teachers Retirement System bought a new stake in BETA Technologies during the first quarter valued at about $27,000. Allworth Financial LP increased its position in 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 buying an additional 1,286 shares in the last quarter. IFP Advisors Inc raised its stake 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 buying an additional 1,528 shares during the period. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the fourth quarter worth about $35,000. Finally, Parallel Advisors LLC raised its stake in shares of BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after buying an additional 685 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Needham & Company LLC lowered their target price on BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Barclays initiated coverage on BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 price target for the company. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research report on Wednesday, November 4th. Finally, 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. Nine research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and a consensus target price of $30.70.

BETA Technologies Company Profile

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.