Kyle Clark Sells 15,000 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $15.83, for a total transaction of $237,450.00. Following the completion of the transaction, the insider owned 5,629,837 shares of the company’s stock, valued at approximately $89,120,319.71. The trade was a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $16.51, for a total transaction of $247,650.00.
• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.74, for a total transaction of $236,100.00.
• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.78, for a total transaction of $236,700.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.89, for a total transaction of $238,350.00.
• 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.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The shares were sold at an average price of $18.12, for a total value of $1,219,403.52.

BETA Technologies Stock Up 4.1%

Shares of NYSE BETA opened at $16.67 on Friday. The stock has a market cap of $3.71 billion and a PE ratio of -1.35. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50. The business has a 50-day moving average price of $16.69 and a 200 day moving average price of $20.11.

BETA Technologies (NYSE:BETA) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that BETA Technologies Inc will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On BETA Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sandia Investment Management LP acquired a new position in BETA Technologies during the fourth quarter worth $26,000. California State Teachers Retirement System acquired a new stake in shares of BETA Technologies in the first quarter valued at about $27,000. Rockefeller Capital Management L.P. purchased a new stake in BETA Technologies during the fourth quarter worth about $35,000. Manchester Capital Management LLC purchased a new stake in BETA Technologies during the fourth quarter worth about $38,000. Finally, Wolff Wiese Magana LLC acquired a new position in BETA Technologies during the fourth quarter worth about $42,000.

Analyst Ratings Changes

Several research firms recently commented on BETA. Weiss Ratings upgraded shares of BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. BTIG Research dropped their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, May 20th. Morgan Stanley reduced their target price on shares of BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, March 10th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group dropped their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.11.

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.