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

Key Points

• Insider Kyle Clark sold 10,000 BETA Technologies shares on November 9 at an average price of $28.05, for $280,500. He retained 4,905,936 shares, and the sale reduced his stake by 0.20%.
• Clark also sold 10,000 shares in each of nine other reported transactions from October 16 through November 6, with prices ranging from $18.11 to $26.39.
• BETA shares rose 5.3% on Monday to $28.54. Analysts’ consensus rating was “Moderate Buy,” with an average target price of $30.70; quarterly revenue grew 98.6% year over year to $17.67 million.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $28.05, for a total transaction of $280,500.00. Following the sale, the insider owned 4,905,936 shares of the company's stock, valued at approximately $137,611,504.80. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, November 6th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $26.39, for a total transaction of $263,900.00.
• 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 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 stock was 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 value 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 value 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 stock was 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 stock was sold at an average price of $18.51, for a total value of $185,100.00.

BETA Technologies Trading Up 5.3%

Shares of NYSE BETA traded up $1.42 during trading on Monday, reaching $28.54. The stock had a trading volume of 2,862,013 shares, compared to its average volume of 1,834,232. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $36.43. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.51 and a current ratio of 11.51. The business's 50-day moving average price is $20.96 and its 200-day moving average price is $19.04. The company has a market cap of $6.46 billion and a P/E ratio of -7.71.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its earnings results 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 32.36% and a negative net margin of 1,007.80%. The firm had revenue of $17.67 million for the quarter. During the same period in the previous year, the company posted ($9.83) EPS. BETA Technologies's revenue was up 98.6% on a year-over-year basis. On average, equities research analysts predict that BETA Technologies Inc will post -2.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BETA has been the topic of several research reports. Wall Street Zen raised shares of BETA Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, November 1st. Weiss Ratings upgraded shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a report on Wednesday, November 4th. Jefferies Financial Group downgraded shares of BETA Technologies from a "buy" rating to a "hold" rating and cut their target price for the stock from $29.00 to $27.00 in a research note on Monday. Finally, Citigroup reiterated a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BETA Technologies has an average rating of "Moderate Buy" and a consensus target price of $30.70.

Institutional Investors Weigh In On BETA Technologies

Several large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its position in shares of BETA Technologies by 60.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 19,996 shares of the company's stock valued at $442,000 after purchasing an additional 7,557 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of BETA Technologies by 390.8% in the 3rd quarter. Fifth Third Bancorp now owns 4,196 shares of the company's stock valued at $93,000 after purchasing an additional 3,341 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in shares of BETA Technologies during the 3rd quarter worth $149,000. J. Derek Lewis & Associates Inc. lifted its position in shares of BETA Technologies by 27.4% during the 3rd quarter. J. Derek Lewis & Associates Inc. now owns 18,600 shares of the company's stock worth $411,000 after purchasing an additional 4,000 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new position in shares of BETA Technologies during the third quarter worth $328,000.

BETA Technologies Company Profile

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.

The company also develops charging systems intended to support electric aviation operations.

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