BETA Technologies (NYSE:BETA) Stock: Insider Kyle Clark Sells 10,000 Shares

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $26.39, for a total value of $263,900.00. Following the completion of the transaction, the insider owned 4,915,936 shares of the company’s stock, valued at approximately $129,731,551.04. This represents a 0.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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 Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 stock was 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 shares were 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 transaction of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 transaction of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.11, for a total transaction of $181,100.00.
• On Friday, October 16th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.51, for a total transaction of $185,100.00.

BETA Technologies Stock Down 1.5%

NYSE:BETA opened at $28.08 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51. The firm has a 50-day moving average of $21.29 and a two-hundred day moving average of $19.07. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $36.43.

BETA Technologies (NYSE:BETA) last announced its earnings results on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, beating 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 company had revenue of $17.67 million during the quarter. During the same quarter in the prior year, the business earned ($9.83) earnings per share. The firm’s revenue was up 98.6% on a year-over-year basis. As a group, equities analysts anticipate that BETA Technologies Inc will post -2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on BETA. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Citigroup restated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 1st. Needham & Company LLC reduced their target price on BETA Technologies from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research note on Wednesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.

Institutional Investors Weigh In On BETA Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Masters Capital Management LLC acquired a new stake in shares of BETA Technologies in the 1st quarter valued at about $10,290,000. Bank of America Corp DE lifted its position in shares of BETA Technologies by 117.2% during the first 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 last quarter. Bank of New York Mellon Corp bought a new position in shares of BETA Technologies during the second quarter worth about $2,877,000. Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of BETA Technologies during the third quarter worth about $2,905,000. Finally, Squarepoint Ops LLC acquired a new position in BETA Technologies in the second quarter worth about $2,045,000.

About BETA Technologies

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.