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 of $20.66, worth $206,600, reducing his ownership by 0.20% to 5.12 million shares. The article notes multiple additional sales since August.
• Stock and financial performance: BETA shares traded at $20.96, within a 12-month range of $13.43 to $39.50. The company missed its latest EPS estimate, reporting a $0.64 loss per share versus the expected $0.56 loss, on $14.66 million in revenue.
• Analyst outlook remains positive: Ten analysts rate the stock Buy, one rates it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $31.50.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the firm's stock in a transaction on Friday, October 9th. The stock was sold at an average price of $20.66, for a total value of $206,600.00. Following the completion of the transaction, the insider directly owned 5,115,936 shares in the company, valued at approximately $105,695,237.76. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.19, for a total value of $201,900.00.
• On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $21.30, for a total value of $213,000.00.
• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $22.00, for a total value of $220,000.00.
• On Tuesday, September 29th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.62, for a total value of $226,200.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.32, for a total value 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 stock was 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 stock was sold at an average price of $26.74, for a total transaction 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 shares were sold at an average price of $24.66, for a total value of $438,948.00.

BETA Technologies Stock Performance

Shares of BETA Technologies stock traded up $0.46 during trading hours on Friday, hitting $20.96. The company's stock had a trading volume of 1,321,011 shares, compared to its average volume of 3,778,681. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The business has a 50 day moving average price of $22.30 and a two-hundred day moving average price of $18.74. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. The business had revenue of $14.66 million for the quarter. As a group, equities analysts forecast that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On BETA Technologies

Several large investors have recently added to or reduced their stakes in BETA. Farther Finance Advisors LLC increased its position in shares of BETA Technologies by 275.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,620 shares of the company's stock valued at $102,000 after purchasing an additional 3,388 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in BETA Technologies in the second quarter worth $235,000. IFP Advisors Inc lifted its position in BETA Technologies by 555.6% in the second quarter. IFP Advisors Inc now owns 1,803 shares of the company's stock worth $30,000 after buying an additional 1,528 shares during the last quarter. Squarepoint Ops LLC purchased a new position in BETA Technologies during the second quarter worth $2,045,000. Finally, Allworth Financial LP boosted its stake in BETA Technologies by 257.2% during the second quarter. Allworth Financial LP now owns 1,786 shares of the company's stock worth $30,000 after buying an additional 1,286 shares during the period.

Analyst Ratings Changes

BETA has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 price target on shares of BETA Technologies in a research note on Monday. BTIG Research reissued a "buy" rating and set a $33.00 price objective on shares of BETA Technologies in a report on Thursday, August 13th. Barclays started coverage on BETA Technologies in a research report on Friday. They set an "overweight" rating and a $35.00 price objective for the company. Finally, Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, BETA Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $31.50.

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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