Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells 10,000 Shares of Stock

Key Points

• Insider Kyle Clark sold 10,000 BETA Technologies shares at an average $26.39, for $263,900; the sale reduced his stake by 0.20%, leaving him with about 4.92 million shares.
• Clark has also reported repeated sales of 10,000 shares in recent weeks, including transactions at prices from $18.11 to $28.05.
• BETA reported quarterly revenue of $17.67 million, up 98.6% year over year, and a smaller-than-expected loss of $0.51 per share. Analysts’ consensus rating is “Moderate Buy,” with a $30.70 average price target.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $26.39, for a total transaction of $263,900.00. Following the sale, the insider owned 4,915,936 shares in the company, valued at approximately $129,731,551.04. This trade represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, November 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $28.05, for a total transaction of $280,500.00.
• On Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $24.90, for a total transaction of $249,000.00.
• On Monday, November 2nd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.69, for a total transaction of $206,900.00.
• On Friday, October 30th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.92, for a total value of $199,200.00.
• On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.24, for a total value of $202,400.00.
• On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.19, for a total value of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.76, for a total value of $197,600.00.
• On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.06, for a total value of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.11, for a total value of $181,100.00.
• 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 value of $185,100.00.

BETA Technologies Price Performance

BETA Technologies stock traded up $1.42 during mid-day trading on Monday, hitting $28.54. 2,862,013 shares of the company were exchanged, compared to its average volume of 1,834,232. The company has a market capitalization of $6.46 billion and a PE ratio of -7.71. The business has a fifty day moving average of $20.96 and a 200 day moving average of $19.04. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $36.43. The company has a quick ratio of 11.51, a current ratio of 11.51 and a debt-to-equity ratio of 0.11.

BETA Technologies (NYSE:BETA - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The company had revenue of $17.67 million for the quarter. During the same quarter in the prior year, the firm posted ($9.83) EPS. The firm's revenue for the quarter was up 98.6% on a year-over-year basis. As a group, sell-side analysts expect that BETA Technologies Inc will post -2.24 earnings per share for the current year.

Hedge Funds Weigh In On BETA Technologies

A number of large investors have recently modified their holdings of the stock. Masters Capital Management LLC bought a new stake in shares of BETA Technologies during the first quarter valued at approximately $10,290,000. Bank of America Corp DE raised its position in BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after purchasing an additional 187,807 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC bought a new position in BETA Technologies in the 3rd quarter worth approximately $2,905,000. Bank of New York Mellon Corp acquired a new position in BETA Technologies during the 2nd quarter worth $2,877,000. Finally, Corient Private Wealth LP lifted its holdings in BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock worth $2,531,000 after buying an additional 81,150 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $31.00 price target on shares of BETA Technologies in a report on Wednesday, November 4th. Barclays initiated coverage on BETA Technologies in a research note on Friday, October 9th. They issued an "overweight" rating and a $35.00 price objective on the stock. BTIG Research restated a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a report on Friday. Citigroup restated a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

The company also develops charging systems intended to support electric aviation operations.

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