Insider Selling: BETA Technologies (NYSE:BETA) COO Sells $189,691.92 in Stock

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 6,684 shares of the firm’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $28.38, for a total value of $189,691.92. Following the completion of the sale, the chief operating officer owned 240,972 shares of the company’s stock, valued at approximately $6,838,785.36. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Donovan also recently made the following trade(s):

• On Tuesday, November 10th, Sean Donovan sold 16,483 shares of BETA Technologies stock. The shares were sold at an average price of $28.01, for a total value of $461,688.83.

BETA Technologies Price Performance

Shares of BETA Technologies stock traded down $1.87 during trading on Friday, reaching $23.29. The company’s stock had a trading volume of 2,477,382 shares, compared to its average volume of 1,837,066. The stock has a 50-day moving average price of $21.55 and a two-hundred day moving average price of $19.09. The stock has a market capitalization of $5.27 billion and a P/E ratio of -6.29. The company has a current ratio of 11.51, a quick ratio of 11.51 and a debt-to-equity ratio of 0.11. BETA Technologies Inc has a one year low of $13.43 and a one year high of $32.80.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. The firm had revenue of $17.67 million for the quarter. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The firm’s revenue was up 98.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($9.83) EPS. As a group, sell-side analysts anticipate that BETA Technologies Inc will post -2.22 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Masters Capital Management LLC bought a new position in shares of BETA Technologies in the 1st quarter worth $10,290,000. Bank of America Corp DE grew its stake in shares of 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 purchasing an additional 187,807 shares during the period. Bank of New York Mellon Corp bought a new stake in BETA Technologies in the second quarter valued at about $2,877,000. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in BETA Technologies in the third quarter valued at about $2,905,000. Finally, Squarepoint Ops LLC bought a new stake in BETA Technologies in the second quarter valued at about $2,045,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BETA shares. BTIG Research reaffirmed a “buy” rating and set a $33.00 price target on shares of BETA Technologies in a research note on Friday, November 6th. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Needham & Company LLC dropped their price objective on BETA Technologies from $34.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Jefferies Financial Group downgraded shares of BETA Technologies from a “buy” rating to a “hold” rating and cut their target price for the company from $29.00 to $27.00 in a research report on Monday. Finally, Barclays assumed coverage on shares of BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.70.

BETA Technologies Company Profile

BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer. Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.