Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $199,100.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $19.91, for a total transaction of $199,100.00. Following the completion of the sale, the insider directly owned 5,105,936 shares of the company’s stock, valued at approximately $101,659,185.76. The trade was a 0.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, October 14th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $17.58, for a total transaction of $175,800.00.
• 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 transaction 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 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 transaction of $213,000.00.
• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.00, for a total transaction 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.
• 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 transaction 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 stock was 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 shares were 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 stock traded down $0.55 during trading on Wednesday, hitting $17.66. The company 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 stock’s 50-day moving average price is $22.14 and its 200 day moving average price is $18.84. BETA Technologies Inc has a one year low of $13.43 and a one year high of $39.50.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management bought a new stake in BETA Technologies during the third quarter worth $308,000. Farther Finance Advisors LLC boosted its holdings in shares of BETA Technologies by 275.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company’s stock valued at $102,000 after purchasing an additional 3,388 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of BETA Technologies in the 2nd quarter valued at $235,000. IFP Advisors Inc increased its stake in shares of BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of BETA Technologies in the 2nd quarter valued at $2,045,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. BTIG Research reissued a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Barclays began coverage on BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target for the company. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.