BETA Technologies (NYSE:BETA) Stock Price Down 9.1% Following Insider Selling

BETA Technologies Inc (NYSE:BETA)’s stock price fell 9.1% during trading on Tuesday following insider selling activity. The company traded as low as $17.10 and last traded at $17.28. 551,750 shares traded hands during trading, a decline of 63% from the average session volume of 1,497,781 shares. The stock had previously closed at $19.00.

Specifically, insider Kyle Clark sold 15,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $17.41, for a total value of $261,150.00. Following the sale, the insider directly owned 5,554,837 shares of the company’s stock, valued at $96,709,712.17. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kyle Clark sold 15,000 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $16.38, for a total transaction of $245,700.00. Following the transaction, the insider directly owned 5,584,837 shares of the company’s stock, valued at approximately $91,479,630.06. This trade represents a 0.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BETA shares. Morgan Stanley lowered their target price on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. Needham & Company LLC restated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. BTIG Research cut their price objective on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, May 20th. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group cut their price objective on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.11.

BETA Technologies Stock Performance

The firm has a 50 day moving average of $16.79 and a two-hundred day moving average of $19.50. 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 stock has a market cap of $3.83 billion and a P/E ratio of -1.39.

BETA Technologies (NYSE:BETA) last issued its earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million during the quarter. BETA Technologies’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts predict that BETA Technologies Inc will post -2.17 EPS for the current fiscal year.

Institutional Trading of BETA Technologies

Several institutional investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC bought a new position in BETA Technologies in the 4th quarter valued at $603,000. SG Americas Securities LLC acquired a new position in BETA Technologies during the 4th quarter valued at about $1,386,000. Wolff Wiese Magana LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at about $42,000. Stratos Wealth Partners LTD. bought a new position in shares of BETA Technologies in the 4th quarter valued at about $360,000. Finally, Capricorn Fund Managers Ltd bought a new position in shares of BETA Technologies in the 4th quarter valued at about $564,000.

BETA Technologies Company Profile

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.