BETA Technologies (NYSE:BETA) Insider Sells $280,500.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $28.05, for a total value of $280,500.00. Following the sale, the insider directly owned 4,905,936 shares of the company’s stock, valued at $137,611,504.80. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 value 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 stock was sold at an average price of $19.92, for a total value 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 value 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 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 value 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 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 value of $185,100.00.

BETA Technologies Stock Performance

Shares of BETA stock traded up $1.42 during midday trading on Monday, hitting $28.54. The company had a trading volume of 2,862,013 shares, compared to its average volume of 1,834,232. The company’s 50 day simple moving average is $20.96 and its 200 day simple moving average is $19.04. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $36.43. The stock has a market cap of $6.46 billion and a price-to-earnings ratio of -7.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted ($9.83) EPS. The company’s revenue for the quarter was up 98.6% on a year-over-year basis. Research analysts anticipate that BETA Technologies Inc will post -2.24 earnings per share for the current fiscal year.

Institutional Trading of BETA Technologies

A number of institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies during the fourth quarter worth $35,000. Allworth Financial LP lifted its holdings in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after acquiring an additional 1,286 shares during the period. IFP Advisors Inc lifted its holdings in BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after acquiring an additional 1,528 shares during the period. California State Teachers Retirement System purchased a new stake in shares of BETA Technologies during the 1st quarter worth $27,000. Finally, Sterling Capital Management LLC boosted its position in shares of BETA Technologies by 433.0% during the 3rd quarter. Sterling Capital Management LLC now owns 2,761 shares of the company’s stock worth $61,000 after purchasing an additional 2,243 shares in the last quarter.

Analyst Upgrades and Downgrades

BETA has been the topic of several recent research reports. Barclays started coverage on shares of BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 price objective on the stock. Needham & Company LLC dropped their price target 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. Citigroup reissued a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research restated a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research report on Friday. Finally, Wall Street Zen upgraded shares of BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, BETA Technologies has an average rating of “Moderate Buy” and an average target price of $30.70.

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.