BETA Technologies (NYSE:BETA) Insider Sells 15,000 Shares of Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $16.51, for a total value of $247,650.00. Following the transaction, the insider directly owned 5,599,837 shares in the company, valued at $92,453,308.87. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.83, for a total transaction of $237,450.00.
• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.74, for a total value of $236,100.00.
• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.78, for a total value of $236,700.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.89, for a total transaction of $238,350.00.
• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total transaction of $89,965.80.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The shares were sold at an average price of $18.12, for a total transaction of $1,219,403.52.

BETA Technologies Stock Up 4.1%

NYSE BETA traded up $0.66 on Friday, hitting $16.67. 2,446,863 shares of the stock traded hands, compared to its average volume of 1,509,797. The company has a current ratio of 21.36, a quick ratio of 21.37 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.71 billion and a P/E ratio of -1.35. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50. The stock has a 50-day moving average of $16.72 and a 200 day moving average of $20.13.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sandia Investment Management LP acquired a new position in shares of BETA Technologies in the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. bought a new stake in BETA Technologies during the fourth quarter worth approximately $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies during the fourth quarter worth approximately $38,000. Wolff Wiese Magana LLC acquired a new position in BETA Technologies in the fourth quarter worth approximately $42,000. Finally, California State Teachers Retirement System bought a new position in shares of BETA Technologies in the first quarter valued at $27,000.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BETA. Cantor Fitzgerald cut their target price on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley decreased their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, May 18th. 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, May 13th. Finally, The Goldman Sachs Group decreased their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

About BETA Technologies

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.