BETA Technologies (NYSE:BETA) Insider Sells $280,500.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the business’s stock in a transaction on Monday, November 9th. The stock was sold at an average price of $28.05, for a total value of $280,500.00. Following the completion of the transaction, the insider owned 4,905,936 shares of the company’s stock, valued at $137,611,504.80. This represents a 0.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 6th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $26.39, for a total value of $263,900.00.
• On Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $24.90, for a total value of $249,000.00.
• On Monday, November 2nd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.69, for a total value of $206,900.00.
• On Friday, October 30th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.92, for a total value of $199,200.00.
• On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.24, for a total value of $202,400.00.
• On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.19, for a total transaction of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.76, for a total transaction of $197,600.00.
• On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.06, for a total transaction of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.11, for a total transaction of $181,100.00.
• On Friday, October 16th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.51, for a total transaction of $185,100.00.

BETA Technologies Price Performance

BETA opened at $27.88 on Thursday. The firm has a 50 day moving average price of $21.45 and a 200-day moving average price of $19.08. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $36.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51.

BETA Technologies (NYSE:BETA) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, topping 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 business had revenue of $17.67 million during the quarter. During the same period last year, the firm posted ($9.83) EPS. The company’s revenue for the quarter was up 98.6% on a year-over-year basis. As a group, equities research analysts predict that BETA Technologies Inc will post -2.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BETA. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Jefferies Financial Group cut BETA Technologies from a “buy” rating to a “hold” rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Monday. Wall Street Zen raised BETA Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. BTIG Research reissued a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research report on Friday, November 6th. Finally, Citigroup restated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.70.

Institutional Trading of BETA Technologies

Several hedge funds have recently bought and sold shares of BETA. Masters Capital Management LLC bought a new position in shares of BETA Technologies in the first quarter worth about $10,290,000. Bank of America Corp DE lifted its position in shares of BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after buying an additional 187,807 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of BETA Technologies during the 2nd quarter valued at approximately $2,877,000. Cliftonlarsonallen Wealth Advisors LLC bought a new position in shares of BETA Technologies during the 3rd quarter valued at approximately $2,905,000. Finally, Squarepoint Ops LLC purchased a new stake in BETA Technologies in the 2nd quarter worth approximately $2,045,000.

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.