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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $15.89, for a total transaction of $238,350.00. Following the sale, the insider directly owned 5,704,837 shares in the company, valued at $90,649,859.93. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The shares were sold at an average price of $18.12, for a total transaction of $89,965.80.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The shares were sold at an average price of $18.12, for a total transaction of $1,219,403.52.

BETA Technologies Stock Performance

Shares of BETA opened at $16.09 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The company has a market capitalization of $3.58 billion and a price-to-earnings ratio of -1.30. The company’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $20.54. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50.

BETA Technologies (NYSE:BETA) last announced its earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that BETA Technologies Inc will post -2.13 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Jefferies Financial Group lowered their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Morgan Stanley reduced their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 10th. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group dropped their price objective on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Nine investment 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Institutional Trading of BETA Technologies

Institutional investors have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new stake in shares of BETA Technologies during the 4th quarter worth $26,000. California State Teachers Retirement System acquired a new position in BETA Technologies in the first quarter valued at $27,000. Rockefeller Capital Management L.P. acquired a new position in BETA Technologies in the fourth quarter valued at $35,000. Manchester Capital Management LLC purchased a new stake in BETA Technologies during the fourth quarter valued at about $38,000. Finally, Wolff Wiese Magana LLC purchased a new stake in BETA Technologies during the fourth quarter valued at about $42,000.

About BETA Technologies

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.