BETA Technologies (NYSE:BETA) Insider Sells $201,900.00 in Stock

Key Points

• Insider sale: Kyle Clark sold 10,000 BETA Technologies shares at $20.19 each, generating $201,900. He retained 5.14 million shares worth approximately $103.7 million, while recent filings show a series of additional sales.
• Financial performance: BETA stock rose 2.3% to $20.96, but the company reported a quarterly loss of $0.64 per share, missing estimates of $0.56, on revenue of $14.66 million.
• Analyst outlook: Wall Street maintains a consensus “Moderate Buy” rating, with 10 Buy, one Hold and one Sell 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 company's stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $20.19, for a total value of $201,900.00. Following the transaction, the insider owned 5,135,936 shares of the company's stock, valued at approximately $103,694,547.84. The trade was a 0.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.66, for a total value of $206,600.00.
• On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $21.30, for a total transaction 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 transaction of $220,000.00.
• On Tuesday, September 29th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $22.62, for a total transaction 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 transaction of $233,200.00.
• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 stock was 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 shares were 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 Trading Up 2.3%

BETA stock traded up $0.46 during trading on Friday, hitting $20.96. The company had a trading volume of 1,321,011 shares, compared to its average volume of 3,778,681. The business has a 50 day moving average of $22.30 and a 200 day moving average of $18.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50.

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 analysts' consensus estimates of ($0.56) by ($0.08). The company had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, equities research analysts expect that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently modified their holdings of BETA. TPG GP A LLC acquired a new stake in shares of BETA Technologies during the fourth quarter worth $462,515,000. Masters Capital Management LLC purchased a new position in BETA Technologies in the 1st quarter worth about $10,290,000. HITE Hedge Asset Management LLC purchased a new position in BETA Technologies in the 4th quarter worth about $17,289,000. Granahan Investment Management LLC acquired a new stake in BETA Technologies during the 4th quarter worth about $12,366,000. Finally, Bank of America Corp DE raised its holdings in BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after buying an additional 187,807 shares during the period.

Wall Street Analysts Forecast Growth

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