Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $199,200.00 in Stock

Key Points

• Insider sale: BETA Technologies insider Kyle Clark sold 10,000 shares at an average price of $19.92, totaling $199,200. He still directly owns nearly 5.0 million shares valued at approximately $98.9 million.
• Clark has made a series of 10,000-share sales throughout October, while BETA’s stock traded down 2.6% to $20.04. The shares remain well below their 12-month high of $39.50.
• Analyst outlook remains favorable: Ten analysts rate the stock Buy, one rates it Hold and one rates it Sell, producing a Moderate Buy consensus and an average price target of $31.50. 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 Friday, October 30th. The shares were sold at an average price of $19.92, for a total value of $199,200.00. Following the completion of the transaction, the insider directly owned 4,965,936 shares in the company, valued at $98,921,445.12. The trade was 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 Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was 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 stock was 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 shares were sold at an average price of $19.76, for a total transaction of $197,600.00.
• On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.06, for a total transaction 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 stock was 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 value of $175,800.00.
• On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.91, for a total value 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 value 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 transaction of $201,900.00.

BETA Technologies Trading Down 2.6%

Shares of NYSE:BETA traded down $0.53 on Friday, hitting $20.04. 1,304,726 shares of the company's stock were exchanged, compared to its average volume of 1,800,639. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The stock has a market capitalization of $4.52 billion and a price-to-earnings ratio of -1.54. The business's 50 day simple moving average is $20.96 and its two-hundred day simple moving average is $19.17. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month 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) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). The business 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%. Analysts anticipate that BETA Technologies Inc will post -2.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, October 21st. Citigroup reissued a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. BTIG Research restated a "buy" rating and set a $33.00 price target on shares of BETA Technologies in a report on Thursday, August 13th. Wall Street Zen lowered BETA Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. Finally, Barclays started coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an "overweight" rating and a $35.00 price target on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $31.50.

Institutional Trading of BETA Technologies

A number of institutional investors have recently bought and sold shares of BETA. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies in the 4th quarter worth about $35,000. Allworth Financial LP lifted its holdings in shares of BETA Technologies by 257.2% in the second quarter. Allworth Financial LP now owns 1,786 shares of the company's stock valued at $30,000 after buying an additional 1,286 shares during the period. IFP Advisors Inc grew its holdings in shares of BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company's stock valued at $30,000 after acquiring an additional 1,528 shares in the last quarter. California State Teachers Retirement System bought a new stake in BETA Technologies in the first quarter valued at $27,000. Finally, Sterling Capital Management LLC boosted its position in shares of BETA Technologies by 433.0% in the 3rd quarter. Sterling Capital Management LLC now owns 2,761 shares of the company's stock worth $61,000 after purchasing an additional 2,243 shares during the last quarter.

About BETA Technologies

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.

BETA's aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.

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