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

Key Points

• Insider Kyle Clark sold 10,000 BETA Technologies shares at an average price of $17.58, generating $175,800. After the sale, he retained 5,085,936 shares valued at approximately $89.4 million.
• Clark has made a series of insider sales since August, including multiple 10,000-share transactions, while BETA shares have declined 3.0% to $17.66 and remain well below their 12-month high of $39.50.
• BETA’s latest quarterly results missed expectations, with a $0.64 per-share loss versus the estimated $0.56 loss. Despite ongoing losses, analysts maintain a “Moderate Buy” consensus with an average price target of $31.50.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the business's stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $17.58, for a total transaction of $175,800.00. Following the completion of the sale, the insider owned 5,085,936 shares in the company, valued at $89,410,754.88. This represents a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.91, for a total transaction of $199,100.00.
• 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 transaction of $206,600.00.
• 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 transaction 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 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 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 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 shares were sold at an average price of $26.74, for a total transaction of $802,200.00.

BETA Technologies Trading Down 3.0%

Shares of NYSE:BETA traded down $0.55 during trading on Wednesday, reaching $17.66. The company's stock had a trading volume of 1,783,148 shares, compared to its average volume of 3,641,113. The stock has a market capitalization of $3.98 billion and a PE ratio of -1.36. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The firm's 50 day simple moving average is $22.14 and its two-hundred day simple moving average is $18.84.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share 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 company had revenue of $14.66 million for the quarter. On average, research analysts predict that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies during the 1st quarter worth approximately $1,162,000. Masters Capital Management LLC purchased a new stake in BETA Technologies in the first quarter worth $10,290,000. Quantinno Capital Management LP purchased a new stake in BETA Technologies in the first quarter worth $1,115,000. Granahan Investment Management LLC bought a new stake in shares of BETA Technologies during the fourth quarter worth $12,366,000. Finally, Corient Private Wealth LP lifted its position in shares of BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock worth $2,531,000 after purchasing an additional 81,150 shares during the last quarter.

Wall Street Analyst Weigh In

BETA has been the subject of a number of recent research reports. BTIG Research reiterated a "buy" rating and issued a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Cantor Fitzgerald restated an "overweight" rating and issued a $31.00 price target on shares of BETA Technologies in a research report on Monday, October 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, August 12th. Finally, Barclays started coverage on shares of BETA Technologies in a research report on Friday, October 9th. They set an "overweight" rating and a $35.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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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