Kyle Clark Sells 67,296 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 67,296 shares of the business’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52. Following the completion of the transaction, the insider directly owned 748,915 shares in the company, valued at approximately $13,570,339.80. This represents a 8.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $89,965.80.

BETA Technologies Stock Performance

BETA Technologies stock traded down $0.17 on Monday, reaching $18.52. The company’s stock had a trading volume of 2,196,627 shares, compared to its average volume of 1,428,809. The company has a debt-to-equity ratio of 0.10, a quick ratio of 22.77 and a current ratio of 22.77. The stock has a market capitalization of $4.10 billion and a P/E ratio of -1.56. The company’s fifty day moving average is $16.80. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings data on Monday, March 9th. The company reported ($2.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($1.55). The business had revenue of $11.13 million during the quarter, compared to the consensus estimate of $6.69 million. The company’s revenue for the quarter was up 152.3% on a year-over-year basis. As a group, equities analysts forecast that BETA Technologies Inc will post -2.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

BETA has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on BETA Technologies from $41.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, April 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 target price on shares of BETA Technologies in a research report on Tuesday, March 10th. Morgan Stanley dropped their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, March 10th. Weiss Ratings started coverage on BETA Technologies in a research report on Friday, January 30th. They set a “sell (d-)” rating for the company. Finally, UBS Group set a $24.00 target price on BETA Technologies and gave the stock a “buy” rating in a research report on Monday, February 9th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.56.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in BETA. Massachusetts Financial Services Co. MA bought a new stake in BETA Technologies in the fourth quarter valued at about $6,349,000. Liberty Street Advisors Inc. bought a new stake in BETA Technologies in the fourth quarter valued at about $28,187,000. Pictet Asset Management Holding SA bought a new stake in BETA Technologies in the fourth quarter valued at about $10,896,000. SG Americas Securities LLC bought a new stake in BETA Technologies in the fourth quarter valued at about $1,386,000. Finally, General Electric Co bought a new stake in BETA Technologies in the fourth quarter valued at about $644,962,000.

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.