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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $15.78, for a total transaction of $236,700.00. Following the completion of the transaction, the insider directly owned 5,674,837 shares of the company’s stock, valued at approximately $89,548,927.86. The trade was a 0.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.74, for a total value of $236,100.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.89, for a total value 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 value 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 value of $1,219,403.52.

BETA Technologies Trading Up 0.9%

BETA traded up $0.14 during trading on Tuesday, reaching $15.87. The company had a trading volume of 1,429,792 shares, compared to its average volume of 1,500,025. The stock has a market cap of $3.53 billion and a P/E ratio of -1.28. The business has a 50 day simple moving average of $16.78 and a 200-day simple moving average of $20.41. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. BETA Technologies’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Morgan Stanley decreased their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, May 13th. The Goldman Sachs Group reduced their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Citigroup lowered their target price on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.11.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds have recently made changes to their positions in BETA. General Electric Co bought a new position in shares of BETA Technologies during the 4th quarter worth $644,962,000. TPG GP A LLC bought a new stake in shares of BETA Technologies in the fourth quarter valued at about $462,515,000. Amazon Com Inc. purchased a new stake in BETA Technologies in the fourth quarter worth about $331,577,000. Vanguard Group Inc. purchased a new stake in BETA Technologies in the fourth quarter worth about $77,089,000. Finally, Norges Bank bought a new position in BETA Technologies during the 4th quarter worth about $41,485,000.

BETA Technologies Company Profile

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.