Kyle Clark Sells 15,000 Shares of BETA Technologies (NYSE:BETA) Stock

Key Points

• Insider selling continued: BETA Technologies insider Kyle Clark sold 15,000 shares on June 29 at an average price of $16.38, bringing in $245,700. This followed several similar sales in recent weeks, reducing his ownership by 0.27%.
• Stock and earnings update: BETA shares rose 3.5% to $17.34 in Wednesday trading, while the company’s latest quarterly results showed a smaller-than-expected loss of $0.53 per share and revenue of $10.13 million, up 5.2% year over year.
• Wall Street remains cautiously bullish: Analysts maintain a consensus rating of Moderate Buy with an average price target of $31.11, even as some firms trimmed targets and the stock still trades well below its 52-week high of $39.50.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $16.38, for a total transaction of $245,700.00. Following the sale, the insider owned 5,584,837 shares of the company's stock, valued at approximately $91,479,630.06. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction of $247,650.00.
• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.83, for a total transaction 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 transaction of $236,100.00.
• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were 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 value of $238,350.00.
• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $89,965.80.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52.

BETA Technologies Stock Up 3.5%

Shares of NYSE:BETA traded up $0.59 during mid-day trading on Wednesday, hitting $17.34. 1,401,438 shares of the company traded hands, compared to its average volume of 1,506,925. The firm has a market cap of $3.85 billion and a P/E ratio of -1.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The firm's 50 day simple moving average is $16.64 and its 200 day simple moving average is $19.83.

BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently bought and sold shares of the company. General Electric Co bought a new stake in BETA Technologies in the fourth quarter valued at about $644,962,000. TPG GP A LLC bought a new stake in shares of BETA Technologies in the 4th quarter valued at approximately $462,515,000. Amazon Com Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $331,577,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter valued at approximately $77,089,000. Finally, Norges Bank bought a new position in BETA Technologies during the fourth quarter worth $41,485,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BETA shares. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. Needham & Company LLC restated a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. BTIG Research dropped their price objective on BETA Technologies from $40.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, May 20th. Jefferies Financial Group cut their target price on BETA Technologies from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Finally, Morgan Stanley reduced their target price on BETA Technologies from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.11.

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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