Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $245,700.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $16.38, for a total transaction of $245,700.00. Following the completion of the transaction, the insider directly owned 5,584,837 shares of the company’s stock, valued at $91,479,630.06. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $16.51, for a total transaction of $247,650.00.
• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was 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 stock was 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 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 stock was sold at an average price of $18.12, for a total value of $1,219,403.52.

BETA Technologies Stock Performance

BETA stock traded up $0.59 during mid-day trading on Wednesday, reaching $17.34. The company had a trading volume of 1,401,438 shares, compared to its average volume of 1,506,925. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $3.85 billion and a P/E ratio of -1.40. BETA Technologies Inc has a one year low of $13.43 and a one year high of $39.50. The stock’s 50-day simple moving average is $16.64 and its two-hundred day simple moving average is $19.83.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley decreased their price objective on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. BTIG Research reduced their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. The Goldman Sachs Group reduced their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Jefferies Financial Group decreased their price target on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Cantor Fitzgerald cut their price objective on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Nine 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.11.

Institutional Inflows and Outflows

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