Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells 10,000 Shares of Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $28.34, for a total value of $283,400.00. Following the sale, the insider owned 4,885,936 shares of the company’s stock, valued at $138,467,426.24. This 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 can be accessed 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 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 transaction 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 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 transaction of $202,400.00.
• On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was 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 stock was 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 transaction of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.11, for a total value of $181,100.00.

BETA Technologies Stock Down 3.7%

Shares of BETA Technologies stock traded down $1.03 during trading hours on Thursday, hitting $26.68. 373,876 shares of the company’s stock traded hands, compared to its average volume of 1,826,635. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $36.43. The company has a market cap of $6.04 billion and a PE ratio of -7.18. The company has a quick ratio of 11.51, a current ratio of 11.51 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $21.45 and a 200-day simple moving average of $19.08.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, topping the consensus estimate 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 quarter last year, the firm posted ($9.83) EPS. The company’s revenue was up 98.6% compared to the same quarter last year. Equities research analysts anticipate that BETA Technologies Inc will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies during the 1st quarter valued at about $1,162,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in BETA Technologies during the third quarter worth about $2,905,000. Masters Capital Management LLC acquired a new stake in BETA Technologies during the first quarter worth about $10,290,000. Quantinno Capital Management LP bought a new position in BETA Technologies in the first quarter worth about $1,115,000. Finally, Corient Private Wealth LP lifted its holdings in BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after acquiring an additional 81,150 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on BETA shares. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. Barclays began coverage on BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 target price for the company. Jefferies Financial Group downgraded shares of BETA Technologies from a “buy” rating to a “hold” rating and decreased their price target for the stock from $29.00 to $27.00 in a research report on Monday. BTIG Research restated a “buy” rating and issued a $33.00 price target on shares of BETA Technologies in a research note on Friday, November 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a report on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.70.

BETA Technologies Company Profile

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.