BETA Technologies (NYSE:BETA) Stock: Insider Sean Donovan Sells 6,684 Shares

Key Points

• COO Sean Donovan sold 6,684 shares at an average $28.38, totaling about $189,692; the sale covered tax withholding on vested equity awards. He retained 240,972 shares, and had also sold 16,483 shares the previous day.
• BETA shares traded at $23.29 on Friday, down $1.87 for the session. The stock’s 52-week range is $13.43 to $32.80.
• Quarterly revenue rose 98.6% year over year to $17.67 million, while the company reported a $0.51 loss per share—beating estimates. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $30.70.

BETA Technologies Inc (NYSE:BETA - Get Free Report) COO Sean Donovan sold 6,684 shares of BETA Technologies stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $28.38, for a total transaction of $189,691.92. Following the sale, the chief operating officer owned 240,972 shares in the company, valued at approximately $6,838,785.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Donovan also recently made the following trade(s):

• On Tuesday, November 10th, Sean Donovan sold 16,483 shares of BETA Technologies stock. The shares were sold at an average price of $28.01, for a total transaction of $461,688.83.

BETA Technologies Price Performance

NYSE:BETA traded down $1.87 during mid-day trading on Friday, hitting $23.29. The company's stock had a trading volume of 2,477,382 shares, compared to its average volume of 1,837,066. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $32.80. The company has a current ratio of 11.51, a quick ratio of 11.51 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.27 billion and a price-to-earnings ratio of -6.29. The stock has a fifty day moving average of $21.55 and a 200-day moving average of $19.09.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The company had revenue of $17.67 million for the quarter. During the same period in the previous year, the firm posted ($9.83) earnings per share. The firm's revenue for the quarter was up 98.6% compared to the same quarter last year. As a group, equities analysts forecast that BETA Technologies Inc will post -2.22 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

Several hedge funds have recently modified their holdings of the company. Bleakley Financial Group LLC acquired a new position in shares of BETA Technologies in the 3rd quarter worth approximately $580,000. Ieq Capital LLC grew its position in BETA Technologies by 53.8% during the 3rd quarter. Ieq Capital LLC now owns 72,472 shares of the company's stock worth $1,602,000 after acquiring an additional 25,343 shares during the last quarter. Composition Wealth LLC increased its holdings in BETA Technologies by 361.5% during the 3rd quarter. Composition Wealth LLC now owns 149,856 shares of the company's stock valued at $3,312,000 after purchasing an additional 117,382 shares in the last quarter. Voya Investment Management LLC acquired a new stake in BETA Technologies during the 3rd quarter valued at $494,000. Finally, Russell Investments Group Ltd. increased its holdings in BETA Technologies by 60.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 19,996 shares of the company's stock valued at $442,000 after purchasing an additional 7,557 shares in the last quarter.

Analysts Set New Price Targets

BETA has been the subject of several analyst reports. Needham & Company LLC cut their target price on BETA Technologies from $34.00 to $28.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Wall Street Zen upgraded BETA Technologies from a "sell" rating to a "hold" rating in a research report on Sunday, November 1st. BTIG Research reiterated a "buy" rating and issued a $33.00 price target on shares of BETA Technologies in a research report on Friday, November 6th. Jefferies Financial Group lowered BETA Technologies from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $29.00 to $27.00 in a research note on Monday. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $31.00 price objective on shares of BETA Technologies in a report on Wednesday, November 4th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.70.

BETA Technologies Company Profile

BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer. Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.

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