Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $206,900.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $20.69, for a total transaction of $206,900.00. Following the sale, the insider directly owned 4,955,936 shares of the company’s stock, valued at approximately $102,538,315.84. This trade represents a 0.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• 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 value of $249,000.00.
• 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 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 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 stock was 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 shares were 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 shares were sold at an average price of $18.51, for a total value of $185,100.00.
• On Wednesday, October 14th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $17.58, for a total value of $175,800.00.
• On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.91, for a total transaction of $199,100.00.

BETA Technologies Stock Up 12.6%

BETA stock opened at $27.09 on Friday. The firm has a 50-day moving average of $20.96 and a two-hundred day moving average of $19.04. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The company has a market cap of $6.13 billion and a price-to-earnings ratio of -7.32. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $36.43.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The company had revenue of $17.67 million for the quarter. During the same quarter in the prior year, the firm earned ($9.83) earnings per share. BETA Technologies’s revenue for the quarter was up 98.6% compared to the same quarter last year. As a group, analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BETA Technologies

Institutional investors have recently made changes to their positions in the company. Masters Capital Management LLC purchased a new stake in BETA Technologies during the first quarter valued at about $10,290,000. Bank of America Corp DE increased its position in BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after purchasing an additional 187,807 shares during the period. Cliftonlarsonallen Wealth Advisors LLC purchased a new position in BETA Technologies in the 3rd quarter valued at about $2,905,000. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies during the 2nd quarter valued at $2,877,000. Finally, Corient Private Wealth LP increased its position in shares of BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock valued at $2,531,000 after purchasing an additional 81,150 shares during the period.

Analysts Set New Price Targets

Several brokerages have recently commented on BETA. Needham & Company LLC decreased their price objective on BETA Technologies from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $31.00 price target on shares of BETA Technologies in a report on Wednesday. Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. BTIG Research restated a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research note on Friday. Finally, Barclays initiated coverage on shares of BETA Technologies in a research report on Friday, October 9th. They set an “overweight” rating and a $35.00 price target for the company. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $30.90.

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 South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA’s aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.