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 BETA Technologies stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $20.19, for a total transaction of $201,900.00. Following the transaction, the insider owned 5,135,936 shares in the company, valued at approximately $103,694,547.84. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.66, for a total value of $206,600.00.
• On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $21.30, for a total value of $213,000.00.
• On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $22.00, for a total value of $220,000.00.
• On Tuesday, September 29th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.62, for a total value of $226,200.00.
• On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.32, for a total value of $233,200.00.
• 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 stock was sold at an average price of $25.22, for a total value 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 value of $802,200.00.
• 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 value of $752,400.00.
• On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The shares were sold at an average price of $24.66, for a total value of $438,948.00.

BETA Technologies Stock Up 2.3%

Shares of NYSE BETA traded up $0.46 during mid-day trading on Friday, reaching $20.96. The company had a trading volume of 1,321,011 shares, compared to its average volume of 3,778,681. The stock has a fifty day moving average of $22.30 and a two-hundred day moving average of $18.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $34.00 price target on shares of BETA Technologies in a research note on Wednesday, August 12th. BTIG Research restated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup reaffirmed a “buy” rating on shares of BETA Technologies in a research report on Thursday, August 13th. Barclays started coverage on BETA Technologies in a research note on Friday. They set an “overweight” rating and a $35.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $31.00 price target on shares of BETA Technologies in a report on Monday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Hedge Funds Weigh In On BETA Technologies

Several hedge funds have recently bought and sold shares of BETA. TPG GP A LLC acquired a new stake in shares of BETA Technologies in the fourth quarter worth about $462,515,000. Masters Capital Management LLC bought a new position in shares of BETA Technologies in the 1st quarter valued at approximately $10,290,000. HITE Hedge Asset Management LLC bought a new position in shares of BETA Technologies in the 4th quarter valued at approximately $17,289,000. Granahan Investment Management LLC acquired a new stake in BETA Technologies in the 4th quarter worth approximately $12,366,000. Finally, Bank of America Corp DE lifted its holdings in BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock worth $5,117,000 after purchasing an additional 187,807 shares during the last quarter.

BETA Technologies Company Profile

BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.

Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.