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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $22.62, for a total value of $226,200.00. Following the completion of the sale, the insider directly owned 5,195,936 shares of the company’s stock, valued at approximately $117,532,072.32. This trade 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 accessible through this hyperlink.

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

• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $22.00, for a total value of $220,000.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.32, for a total value of $233,200.00.
• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.04, for a total value of $230,400.00.
• 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 transaction of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were 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 transaction of $438,948.00.
• On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.42, for a total transaction of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were 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 shares were sold at an average price of $24.46, for a total transaction of $415,942.30.

BETA Technologies Stock Performance

Shares of NYSE:BETA traded down $0.43 on Thursday, reaching $21.67. The company’s stock had a trading volume of 1,309,099 shares, compared to its average volume of 3,891,124. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The stock’s 50-day moving average is $21.96 and its two-hundred day moving average is $18.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47.

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

Institutional Investors Weigh In On BETA Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC purchased a new stake in shares of BETA Technologies during the 2nd quarter worth $235,000. IFP Advisors Inc increased its holdings in shares of BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of BETA Technologies in the second quarter valued at about $2,045,000. Allworth Financial LP lifted its stake in shares of 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 purchasing an additional 1,286 shares during the period. Finally, Arizona State Retirement System purchased a new stake in BETA Technologies during the second quarter worth about $251,000.

Wall Street Analyst Weigh In

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

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.