Kyle Clark Sells 23,205 Shares of BETA Technologies (NYSE:BETA) Stock

Key Points

• Insider selling: Kyle Clark sold 23,205 BETA Technologies shares for approximately $585,230, reducing his ownership by 0.44% to 5.24 million shares. He has also sold shares in multiple transactions since June.
• Stock and earnings: BETA shares fell 3.0% to $24.71, while the company reported a quarterly loss of $0.64 per share, missing estimates by $0.08, on revenue of $14.66 million.
• Analyst outlook: Despite the insider selling and ongoing losses, analysts maintain a “Moderate Buy” consensus, with an average price target of $31.11 versus the recent share price.

BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 23,205 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10. Following the completion of the transaction, the insider directly owned 5,235,936 shares of the company's stock, valued at approximately $132,050,305.92. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $26.74, for a total value of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.08, for a total transaction of $752,400.00.
• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The stock was sold at an average price of $24.66, for a total value of $438,948.00.
• On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.42, for a total transaction of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.47, for a total transaction of $352,050.00.
• 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 Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total value of $385,197.84.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were 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 stock was 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.

BETA Technologies Stock Down 3.0%

BETA stock traded down $0.77 during mid-day trading on Friday, hitting $24.71. 1,600,598 shares of the company were exchanged, compared to its average volume of 1,536,872. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $5.57 billion and a PE ratio of -1.90. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50. The firm has a fifty day simple moving average of $19.24 and a 200 day simple moving average of $17.87.

BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The business had revenue of $14.66 million during the quarter. On average, research analysts forecast that BETA Technologies Inc will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies in the 2nd quarter worth approximately $2,877,000. Parallel Advisors LLC raised its stake in BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company's stock worth $49,000 after acquiring an additional 685 shares in the last quarter. Bank of America Corp DE raised its stake in BETA Technologies by 117.2% during the first quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after acquiring an additional 187,807 shares in the last quarter. California State Teachers Retirement System bought a new position in shares of BETA Technologies during the first quarter valued at $27,000. Finally, Readystate Asset Management LP boosted its stake in shares of BETA Technologies by 19.0% in the 1st quarter. Readystate Asset Management LP now owns 25,000 shares of the company's stock valued at $368,000 after purchasing an additional 4,000 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on BETA. Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a research note on Thursday, August 13th. BTIG Research reaffirmed a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Weiss Ratings lowered shares of BETA Technologies from a "sell (d)" rating to a "sell (d-)" rating in a research note on Tuesday. Cantor Fitzgerald reiterated an "overweight" rating and set a $31.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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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