BETA Technologies (NYSE:BETA) Insider Kyle Clark Sells 10,000 Shares of Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of the firm’s stock in a transaction dated Saturday, September 26th. The stock was sold at an average price of $23.32, for a total transaction of $233,200.00. Following the sale, the insider owned 5,205,936 shares of the company’s stock, valued at approximately $121,402,427.52. This represents a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.04, for a total value of $230,400.00.
• On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10.
• On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $26.74, for a total transaction of $802,200.00.
• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.08, for a total transaction of $752,400.00.
• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The stock was sold at an average price of $24.66, for a total transaction of $438,948.00.
• On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.42, for a total value of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.47, for a total transaction of $352,050.00.
• On Tuesday, August 11th, Kyle Clark sold 17,005 shares of BETA Technologies stock. The shares were sold at an average price of $24.46, for a total transaction of $415,942.30.
• On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total transaction of $385,197.84.
• On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.25, for a total value of $348,750.00.

BETA Technologies Stock Down 4.4%

Shares of BETA Technologies stock traded down $1.04 on Monday, hitting $22.81. The stock had a trading volume of 1,926,644 shares, compared to its average volume of 3,864,028. The stock has a 50 day moving average of $21.75 and a 200 day moving average of $18.44. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.47 and a current ratio of 14.47.

BETA Technologies (NYSE:BETA) last posted its earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%.The business had revenue of $14.66 million for the quarter. As a group, equities research analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $31.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a report on Wednesday, August 12th. Citigroup restated a “buy” rating on shares of BETA Technologies in a report on Thursday, August 13th. Finally, BTIG Research reissued a “buy” rating and set a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BETA. Parallel Advisors LLC grew its holdings in shares of BETA Technologies by 26.0% during the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock valued at $49,000 after buying an additional 685 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of BETA Technologies in the 4th quarter worth about $35,000. Allworth Financial LP lifted its position in BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after acquiring an additional 1,286 shares in the last quarter. Manchester Capital Management LLC bought a new position in BETA Technologies in the 4th quarter valued at about $38,000. Finally, IFP Advisors Inc boosted its stake in BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after purchasing an additional 1,528 shares during the last quarter.

BETA Technologies Company Profile

BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.

BETA’s aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.