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

Key Points

• Insider selling: Founder and insider Kyle Clark sold 10,000 BETA shares for $233,200, reducing his stake by 0.19% to approximately 5.21 million shares. The sale follows several other share disposals since August.
• Stock performance and results: BETA shares fell 4.4% to $22.81, while the company reported a quarterly loss of $0.64 per share, missing analyst expectations, on revenue of $14.66 million.
• Analyst outlook: Despite the insider selling and losses, analysts maintain a “Moderate Buy” consensus, with an average price target of $31.11 compared with the recent share price.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the business's stock in a transaction dated Saturday, September 26th. The stock was sold at an average price of $23.32, for a total value of $233,200.00. Following the completion of the transaction, the insider owned 5,205,936 shares in the company, valued at approximately $121,402,427.52. This trade represents a 0.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• 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 value 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.
• On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was 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 stock was sold at an average price of $24.46, for a total value of $415,942.30.
• On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total transaction of $385,197.84.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.25, for a total value of $348,750.00.

BETA Technologies Trading Down 4.4%

Shares of BETA traded down $1.04 during trading hours on Monday, hitting $22.81. 1,926,644 shares of the company were exchanged, compared to its average volume of 3,864,028. 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 firm has a fifty day simple moving average of $21.75 and a 200-day simple moving average of $18.44. BETA Technologies Inc has a one year low of $13.43 and a one year high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings data 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). 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%. As a group, analysts anticipate that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BETA has been the subject of a number of research analyst reports. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. BTIG Research reiterated a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a research report 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 note on Wednesday, August 12th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.11.

Hedge Funds Weigh In On BETA Technologies

A number of large investors have recently added to or reduced their stakes in BETA. California State Teachers Retirement System bought a new position in shares of BETA Technologies during the 1st quarter worth approximately $27,000. Allworth Financial LP boosted its position in BETA Technologies by 257.2% during the second quarter. Allworth Financial LP now owns 1,786 shares of the company's stock valued at $30,000 after purchasing an additional 1,286 shares during the last quarter. IFP Advisors Inc grew 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 purchasing an additional 1,528 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies during the fourth quarter worth $35,000. Finally, Manchester Capital Management LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at about $38,000.

BETA Technologies Company Profile

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA's aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.