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

Key Points

• Insider Kyle Clark sold another 10,000 BETA shares at an average price of $18.11, generating $181,100. He retained 5.06 million shares, with the transaction reducing his ownership by 0.20%.
• Clark has made a series of 10,000-share sales since late September, selling shares at prices ranging from $23.32 to $18.11 as BETA’s stock declined.
• BETA shares traded near $18.04, while analysts maintained a broadly positive outlook: the stock has a “Moderate Buy” consensus and an average price target of $31.50. However, the company recently missed quarterly EPS estimates and continues to report significant losses.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $18.11, for a total transaction of $181,100.00. Following the transaction, the insider directly owned 5,055,936 shares in the company, valued at approximately $91,563,000.96. This trade 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 at this link.

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

• On Friday, October 16th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.51, for a total transaction of $185,100.00.
• On Wednesday, October 14th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $17.58, for a total transaction of $175,800.00.
• 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 stock was 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 stock was 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 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 shares were 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 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 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 value of $230,400.00.

BETA Technologies Price Performance

BETA stock traded up $0.01 during mid-day trading on Monday, reaching $18.04. 1,003,254 shares of the company's stock were exchanged, compared to its average volume of 2,196,497. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50. The stock's 50 day moving average is $21.83 and its 200 day moving average is $18.93. The company has a market cap of $4.07 billion and a price-to-earnings ratio of -1.39.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). The company had revenue of $14.66 million during the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. On average, research analysts expect that BETA Technologies Inc will post -2.25 EPS for the current year.

Institutional Investors Weigh In On BETA Technologies

Large investors have recently modified their holdings of the stock. Hanson & Doremus Investment Management purchased a new stake in shares of BETA Technologies during the third quarter worth about $374,000. Cliftonlarsonallen Wealth Advisors LLC purchased a new position in BETA Technologies in the third quarter valued at about $2,905,000. Triumph Capital Management acquired a new stake in BETA Technologies during the 3rd quarter valued at approximately $308,000. Farther Finance Advisors LLC grew its stake in 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 in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in BETA Technologies during the 2nd quarter worth approximately $235,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BETA shares. Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research restated a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC restated a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research report on Wednesday, August 12th. Barclays initiated coverage on BETA Technologies in a report on Friday, October 9th. They set an "overweight" rating and a $35.00 target price on the stock. Finally, Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Ten research 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. Based on data from MarketBeat, the company presently 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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