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 BETA Technologies stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $23.04, for a total value of $230,400.00. Following the completion of the transaction, the insider directly owned 5,225,936 shares in the company, valued at approximately $120,405,565.44. This represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 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 value of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.08, for a total transaction of $752,400.00.
• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The shares were sold at an average price of $24.66, for a total value of $438,948.00.
• On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.42, for a total value of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.47, for a total transaction of $352,050.00.
• On Tuesday, August 11th, Kyle Clark sold 17,005 shares of BETA Technologies stock. The stock was sold at an average price of $24.46, for a total transaction of $415,942.30.
• On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total transaction of $385,197.84.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.25, for a total transaction of $348,750.00.

BETA Technologies Price Performance

Shares of BETA stock traded down $1.04 during trading hours on Monday, reaching $22.81. 1,926,644 shares of the company were exchanged, compared to its average volume of 3,864,028. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The stock’s fifty day moving average is $21.75 and its two-hundred day moving average is $18.44. The company has a market cap of $5.14 billion and a price-to-earnings ratio of -1.75.

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

Analyst Upgrades and Downgrades

BETA has been the subject of a number of recent research reports. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Citigroup restated a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a research report on Wednesday, August 12th. Finally, BTIG Research reissued a “buy” rating and set a $33.00 price target on shares of BETA Technologies in a research note on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after purchasing an additional 685 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in BETA Technologies during the 4th quarter worth approximately $35,000. Allworth Financial LP raised its holdings in BETA Technologies by 257.2% during the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock worth $30,000 after buying an additional 1,286 shares during the period. Manchester Capital Management LLC bought a new position in BETA Technologies in the fourth quarter valued at approximately $38,000. Finally, IFP Advisors Inc boosted 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 valued at $30,000 after buying an additional 1,528 shares during the period.

About BETA Technologies

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA’s aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.