Kyle Clark Sells 17,800 Shares of BETA Technologies (NYSE:BETA) Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 17,800 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $24.66, for a total transaction of $438,948.00. Following the completion of the transaction, the insider directly owned 5,379,141 shares of the company’s stock, valued at approximately $132,649,617.06. The trade was a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.08, for a total transaction of $752,400.00.
• 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 transaction of $762,600.00.
• On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was 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 shares were 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 transaction of $348,750.00.
• On Wednesday, July 1st, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $17.41, for a total value of $261,150.00.
• On Monday, June 29th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.38, for a total value of $245,700.00.
• On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.51, for a total value of $247,650.00.
• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.83, for a total value of $237,450.00.

BETA Technologies Trading Down 1.2%

BETA opened at $26.44 on Thursday. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. The stock has a market capitalization of $5.96 billion and a price-to-earnings ratio of -2.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. The business has a fifty day moving average price of $19.07 and a 200 day moving average price of $17.84.

BETA Technologies (NYSE:BETA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.08). The company had revenue of $14.66 million during the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. Sell-side analysts expect that BETA Technologies Inc will post -2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BETA. Bank of New York Mellon Corp purchased a new stake in BETA Technologies in the second quarter valued at approximately $2,877,000. Parallel Advisors LLC grew its position 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 worth $49,000 after acquiring an additional 685 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after acquiring an additional 187,807 shares during the period. California State Teachers Retirement System acquired a new position in shares of BETA Technologies in the 1st quarter valued at $27,000. Finally, Readystate Asset Management LP raised its position in BETA Technologies by 19.0% in the 1st quarter. Readystate Asset Management LP now owns 25,000 shares of the company’s stock valued at $368,000 after purchasing an additional 4,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. BTIG Research reaffirmed a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a report on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of BETA Technologies from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. Needham & Company LLC restated a “buy” rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, August 12th. Finally, Citigroup reiterated a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.11.

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.