Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells 15,891 Shares

Key Points

• Insider sale: Kyle Clark sold 15,891 BETA Technologies shares at an average price of $24.24, generating approximately $385,198. After the transaction, he retained 5.46 million shares valued at about $132.3 million.
• Stock performance: BETA shares rose 3.5% to $24.60, with a $5.47 billion market capitalization. The stock remains well below its 52-week high of $39.50 but above its 52-week low of $13.43.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with nine Buy ratings, one Hold, and one Sell, and an average price target of $31.11. The company recently beat quarterly loss estimates, reporting a $0.53 loss per share and $10.13 million in revenue.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,891 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $24.24, for a total value of $385,197.84. Following the completion of the sale, the insider directly owned 5,458,946 shares of the company's stock, valued at $132,324,851.04. The trade was a 0.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, August 11th, Kyle Clark sold 17,005 shares of BETA Technologies stock. The stock was sold at an average price of $24.46, for a total value of $415,942.30.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.25, for a total value of $348,750.00.
• On Wednesday, July 1st, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $17.41, for a total value of $261,150.00.
• On Monday, June 29th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.38, for a total value of $245,700.00.
• On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.51, for a total value of $247,650.00.
• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.83, for a total value of $237,450.00.
• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.74, for a total value of $236,100.00.
• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.78, for a total value of $236,700.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.89, for a total transaction of $238,350.00.

BETA Technologies Stock Up 3.5%

BETA stock traded up $0.84 during midday trading on Tuesday, reaching $24.60. 2,618,409 shares of the company's stock traded hands, compared to its average volume of 1,486,748. The company has a market cap of $5.47 billion and a price-to-earnings ratio of -1.99. The firm's fifty day moving average price is $17.94 and its 200-day moving average price is $17.79. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, beating analysts' consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that BETA Technologies Inc will post -2.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of BETA Technologies from $38.00 to $34.00 and set a "buy" rating on the stock in a report on Monday, April 20th. BTIG Research decreased their price objective on BETA Technologies from $40.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, May 20th. Weiss Ratings raised BETA Technologies from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 4th. Citigroup dropped their target price on BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, May 18th. Finally, Cantor Fitzgerald cut their target price on BETA Technologies from $38.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BETA Technologies has an average rating of "Moderate Buy" and a consensus price target of $31.11.

Hedge Funds Weigh In On BETA Technologies

Several institutional investors have recently added to or reduced their stakes in the stock. General Electric Co purchased a new stake in BETA Technologies during the fourth quarter worth about $644,962,000. TPG GP A LLC bought a new position in shares of BETA Technologies during the 4th quarter valued at approximately $462,515,000. Amazon Com Inc. purchased a new stake in shares of BETA Technologies during the 4th quarter worth approximately $331,577,000. Vanguard Group Inc. purchased a new stake in shares of BETA Technologies during the 4th quarter worth approximately $77,089,000. Finally, Norges Bank bought a new stake in shares of BETA Technologies in the 4th quarter worth approximately $41,485,000.

BETA Technologies Company Profile

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.

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