BETA Technologies (NYSE:BETA) Stock Price Down 9.1% on Insider Selling

BETA Technologies Inc (NYSE:BETA)’s stock price fell 9.1% during trading on Tuesday following insider selling activity. The stock traded as low as $17.10 and last traded at $17.28. 551,750 shares changed hands during trading, a decline of 63% from the average session volume of 1,497,781 shares. The stock had previously closed at $19.00.

Specifically, insider Kyle Clark sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $17.41, for a total value of $261,150.00. Following the transaction, the insider directly owned 5,554,837 shares of the company’s stock, valued at approximately $96,709,712.17. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kyle Clark sold 15,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $16.38, for a total transaction of $245,700.00. Following the sale, the insider owned 5,584,837 shares of the company’s stock, valued at $91,479,630.06. The trade was a 0.27% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BETA shares. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Needham & Company LLC reissued a “buy” rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, May 13th. The Goldman Sachs Group reduced their target price on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 20th. BTIG Research decreased their target price on BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group cut their price target on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, BETA Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

BETA Technologies Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The company has a market cap of $3.83 billion and a price-to-earnings ratio of -1.39. The stock has a 50-day moving average price of $16.79 and a 200 day moving average price of $19.50.

BETA Technologies (NYSE:BETA) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. BETA Technologies’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that BETA Technologies Inc will post -2.17 EPS for the current fiscal year.

Institutional Investors Weigh In On BETA Technologies

Large investors have recently made changes to their positions in the stock. General Electric Co bought a new position in BETA Technologies in the fourth quarter valued at $644,962,000. TPG GP A LLC bought a new position in shares of BETA Technologies during the fourth quarter worth approximately $462,515,000. Amazon Com Inc. acquired a new stake in BETA Technologies during the 4th quarter worth approximately $331,577,000. Vanguard Group Inc. bought a new stake in BETA Technologies in the 4th quarter valued at $77,089,000. Finally, Norges Bank acquired a new position in BETA Technologies in the 4th quarter valued at $41,485,000.

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.