BETA Technologies (NYSE:BETA) COO Sean Donovan Sells 16,483 Shares of Company Stock

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 16,483 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $28.01, for a total transaction of $461,688.83. Following the sale, the chief operating officer directly owned 247,656 shares of the company’s stock, valued at approximately $6,936,844.56. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Wednesday, November 11th, Sean Donovan sold 6,684 shares of BETA Technologies stock. The shares were sold at an average price of $28.38, for a total transaction of $189,691.92.

BETA Technologies Stock Down 7.4%

Shares of BETA Technologies stock traded down $1.87 on Friday, reaching $23.29. The stock had a trading volume of 2,478,586 shares, compared to its average volume of 1,991,854. The company has a 50 day moving average price of $21.60 and a 200 day moving average price of $19.08. The company has a quick ratio of 11.51, a current ratio of 11.51 and a debt-to-equity ratio of 0.11. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $32.80. The stock has a market capitalization of $5.27 billion and a P/E ratio of -6.29.

BETA Technologies (NYSE:BETA) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative net margin of 1,007.80% and a negative return on equity of 32.36%. The company had revenue of $17.67 million during the quarter. During the same period in the previous year, the company earned ($9.83) EPS. The company’s revenue was up 98.6% on a year-over-year basis. As a group, equities research analysts forecast that BETA Technologies Inc will post -2.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BETA. Masters Capital Management LLC purchased a new stake in BETA Technologies in the first quarter valued at approximately $10,290,000. Bank of America Corp DE raised its position in BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after buying an additional 187,807 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in BETA Technologies during the 2nd quarter worth approximately $2,877,000. Corient Private Wealth LP raised its position in BETA Technologies by 116.0% during the 2nd quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after buying an additional 81,150 shares during the last quarter. Finally, Composition Wealth LLC lifted its stake in BETA Technologies by 361.5% during the 3rd quarter. Composition Wealth LLC now owns 149,856 shares of the company’s stock valued at $3,312,000 after acquiring an additional 117,382 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BETA. Needham & Company LLC reduced their price target on BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Wall Street Zen cut BETA Technologies from a “hold” rating to a “sell” rating in a research report on Saturday. Barclays initiated coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 price target on the stock. BTIG Research reiterated a “buy” rating and set a $33.00 price objective on shares of BETA Technologies in a research note on Friday, November 6th. Finally, Jefferies Financial Group downgraded shares of BETA Technologies from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $29.00 to $27.00 in a research note on Monday, November 9th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.70.

About BETA Technologies

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.