BETA Technologies (NYSE:BETA) COO Sells $461,688.83 in Stock

Key Points

• BETA Technologies COO Sean Donovan sold 16,483 shares for about $461,689 at an average price of $28.01. The sale covered tax withholding on vested equity awards, and he retained 247,656 shares.
• The stock fell 7.4% on Friday to $23.29. BETA reported quarterly revenue of $17.67 million, up 98.6% year over year, and a loss of $0.51 per share—slightly better than analyst expectations.
• Analysts’ consensus rating is Moderate Buy, with a $30.70 average price target; Needham lowered its target to $28 while maintaining a Buy rating.

BETA Technologies Inc (NYSE:BETA - Get Free Report) COO Sean Donovan sold 16,483 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $28.01, for a total transaction of $461,688.83. Following the sale, the chief operating officer owned 247,656 shares in the company, valued at $6,936,844.56. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Donovan also recently made the following trade(s):

• On Wednesday, November 11th, Sean Donovan sold 6,684 shares of BETA Technologies stock. The shares were sold at an average price of $28.38, for a total transaction of $189,691.92.

BETA Technologies Stock Down 7.4%

Shares of BETA Technologies stock traded down $1.87 on Friday, hitting $23.29. The company had a trading volume of 2,477,231 shares, compared to its average volume of 1,837,066. The stock has a 50-day moving average of $21.55 and a 200-day moving average of $19.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $32.80. The firm has a market capitalization of $5.27 billion and a P/E ratio of -6.29.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. The business had revenue of $17.67 million for the quarter. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The company's revenue was up 98.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($9.83) earnings per share. Research analysts predict that BETA Technologies Inc will post -2.22 earnings per share for the current year.

Analyst Ratings Changes

BETA has been the topic of a number of research reports. Citigroup restated a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. 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, November 4th. 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 target price on shares of BETA Technologies in a research note on Friday, November 6th. Finally, Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, BETA Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.70.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC acquired a new stake in BETA Technologies in the 3rd quarter valued at $580,000. Ieq Capital LLC grew its holdings in shares of BETA Technologies by 53.8% in the 3rd quarter. Ieq Capital LLC now owns 72,472 shares of the company's stock valued at $1,602,000 after acquiring an additional 25,343 shares in the last quarter. Composition Wealth LLC grew its holdings in shares of BETA Technologies by 361.5% in the 3rd quarter. Composition Wealth LLC now owns 149,856 shares of the company's stock valued at $3,312,000 after acquiring an additional 117,382 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of BETA Technologies in the 3rd quarter valued at about $494,000. Finally, Russell Investments Group Ltd. increased its position in shares of BETA Technologies by 60.8% in the third quarter. Russell Investments Group Ltd. now owns 19,996 shares of the company's stock valued at $442,000 after acquiring an additional 7,557 shares during the last quarter.

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.

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