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

Key Points

• Insider selling: Kyle Clark sold 10,000 BETA Technologies shares at an average price of $22.62, generating $226,200. He retained approximately 5.2 million shares after the transaction and has made multiple recent sales.
• Stock and financial performance: BETA shares fell 2.0% to $21.67. The company reported a quarterly loss of $0.64 per share, worse than analysts’ $0.56 estimate, on revenue of $14.66 million.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with nine Buy ratings, one Hold, and one Sell. The average analyst price target is $31.11, above the current share price.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the firm's stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $22.62, for a total transaction of $226,200.00. Following the sale, the insider owned 5,195,936 shares of the company's stock, valued at approximately $117,532,072.32. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.32, for a total transaction of $233,200.00.
• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.04, for a total transaction of $230,400.00.
• On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10.
• On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $26.74, for a total value of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.08, for a total value of $752,400.00.
• 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.

BETA Technologies Trading Down 2.0%

Shares of NYSE BETA traded down $0.43 during mid-day trading on Thursday, reaching $21.67. 1,309,099 shares of the company's stock were exchanged, compared to its average volume of 3,891,124. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. The company's 50-day moving average is $21.96 and its 200-day moving average is $18.54. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates 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, analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BETA. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. Cantor Fitzgerald restated an "overweight" rating and set a $31.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC reissued a "buy" rating and issued a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, August 12th. BTIG Research reaffirmed a "buy" rating and set a $33.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $31.11.

Institutional Trading of BETA Technologies

Institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. acquired a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC purchased a new stake in BETA Technologies in the fourth quarter valued at $38,000. Allworth Financial LP lifted its position in BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company's stock valued at $30,000 after acquiring an additional 1,286 shares during the last quarter. IFP Advisors Inc boosted its stake in BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company's stock valued at $30,000 after acquiring an additional 1,528 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter valued at $27,000.

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 Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.

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