Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $263,900.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $26.39, for a total transaction of $263,900.00. Following the transaction, the insider owned 4,915,936 shares in the company, valued at approximately $129,731,551.04. The trade was a 0.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, November 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $28.05, for a total transaction of $280,500.00.
• On Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 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 value 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 value 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 Trading Down 0.7%

Shares of NYSE:BETA opened at $27.88 on Thursday. 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 Inc has a 1-year low of $13.43 and a 1-year high of $36.43. The business’s 50 day moving average is $21.45 and its 200-day moving average is $19.08.

BETA Technologies (NYSE:BETA) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. The business had revenue of $17.67 million during 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 revenue for the quarter was up 98.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($9.83) earnings per share. As a group, sell-side analysts expect that BETA Technologies Inc will post -2.22 EPS for the current fiscal year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System bought a new position in shares of BETA Technologies during the 1st quarter worth approximately $27,000. Allworth Financial LP grew 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 valued at $30,000 after acquiring an additional 1,286 shares during the period. IFP Advisors Inc grew its position 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. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies during the fourth quarter worth $35,000. Finally, Parallel Advisors LLC raised its stake in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter.

Analysts Set New Price Targets

BETA has been the topic of several analyst reports. Barclays assumed coverage on shares of BETA Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Wall Street Zen raised shares of BETA Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research reiterated a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research report on Friday, November 6th. Finally, Weiss Ratings raised shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to 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.