BETA Technologies (NYSE:BETA) Insider Kyle Clark Sells 30,000 Shares

Key Points

• Insider selling: Kyle Clark sold 30,000 BETA shares at an average price of $25.08, generating $752,400. He retained 5.35 million shares, and has made several other sales since June.
• Shares rose 4.7% to $26.79, despite trading well below the 52-week high of $39.50. The stock’s 50-day and 200-day moving averages were $18.86 and $17.81, respectively.
• Analyst sentiment remains favorable: Nine analysts rate BETA a Buy, with an average price target of $31.11. However, the company reported a quarterly loss of $0.64 per share, missing estimates, on revenue of $14.66 million.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $25.08, for a total transaction of $752,400.00. Following the sale, the insider directly owned 5,349,141 shares of the company's stock, valued at approximately $134,156,456.28. The trade was a 0.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The stock was sold at an average price of $24.66, for a total value 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 value 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 value 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 value of $415,942.30.
• On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total value of $385,197.84.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.25, for a total value of $348,750.00.
• On Wednesday, July 1st, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $17.41, for a total value of $261,150.00.
• On Monday, June 29th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $16.38, for a total transaction of $245,700.00.
• 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 shares were sold at an average price of $15.83, for a total transaction of $237,450.00.

BETA Technologies Trading Up 4.7%

Shares of NYSE BETA traded up $1.19 during trading on Tuesday, reaching $26.79. The company had a trading volume of 3,018,978 shares, compared to its average volume of 1,769,555. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. 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 business's 50 day moving average price is $18.86 and its 200-day moving average price is $17.81.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. The company had revenue of $14.66 million for the quarter. As a group, research analysts forecast that BETA Technologies Inc will post -2.22 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BETA shares. Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $31.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings raised BETA Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 4th. The Goldman Sachs Group decreased their target price on BETA Technologies from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 20th. Finally, BTIG Research reiterated a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Nine equities 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 an average price target of $31.11.

Institutional Trading of BETA Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Sandia Investment Management LP bought a new stake in BETA Technologies during the 4th quarter worth approximately $26,000. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies during the fourth quarter worth $35,000. Manchester Capital Management LLC bought a new stake in BETA Technologies in the fourth quarter worth approximately $38,000. California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter valued at approximately $27,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $70,000.

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.

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