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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $28.05, for a total transaction of $280,500.00. Following the sale, the insider owned 4,905,936 shares of the company’s stock, valued at $137,611,504.80. The trade was a 0.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 transaction of $263,900.00.
• On Wednesday, November 4th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $24.90, for a total transaction 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 transaction 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 transaction of $199,200.00.
• On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.24, for a total transaction 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 value of $191,900.00.
• On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.76, for a total value 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 value of $190,600.00.
• On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 $28.08 on Wednesday. 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 Inc has a 12 month low of $13.43 and a 12 month high of $36.43. The stock has a fifty day moving average price of $21.29 and a 200-day moving average price of $19.07.

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 expect that BETA Technologies Inc will post -2.22 earnings per share for the current year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in BETA Technologies during the 1st quarter valued at about $1,162,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new position in shares of BETA Technologies in the third quarter valued at about $2,905,000. Masters Capital Management LLC purchased a new position in shares of BETA Technologies in the first quarter worth about $10,290,000. Quantinno Capital Management LP purchased a new position in shares of BETA Technologies in the first quarter worth about $1,115,000. Finally, Corient Private Wealth LP raised its stake in shares of BETA Technologies by 116.0% in the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company’s stock worth $2,531,000 after purchasing an additional 81,150 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have weighed in on BETA. Barclays assumed coverage on BETA Technologies in a report on Friday, October 9th. They issued an “overweight” rating and a $35.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $31.00 price objective on shares of BETA Technologies in a report on Wednesday, November 4th. BTIG Research reaffirmed a “buy” rating and issued a $33.00 price objective on shares of BETA Technologies in a research report on Friday, November 6th. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Finally, Jefferies Financial Group downgraded shares of BETA Technologies from a “buy” rating to a “hold” rating and dropped their target price for the stock from $29.00 to $27.00 in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.