Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells 15,000 Shares of Stock

by · The Cerbat Gem

BETA Technologies Inc (NYSE:BETA – Get Free Report) insider Kyle Clark sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $15.89, for a total value of $238,350.00. Following the completion of the sale, the insider owned 5,704,837 shares in the company, valued at approximately $90,649,859.93. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

  • 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 Performance

BETA traded up $0.32 during trading on Thursday, hitting $16.09. The stock had a trading volume of 1,835,121 shares, compared to its average volume of 1,499,876. 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 50 day moving average price of $16.80 and a 200-day moving average price of $20.65. BETA Technologies Inc has a one year low of $13.43 and a one year high of $39.50. The firm has a market cap of $3.58 billion and a price-to-earnings ratio of -1.30.

BETA Technologies (NYSE:BETA – Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.21. The firm had revenue of $10.13 million for the quarter. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts predict that BETA Technologies Inc will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BETA. Sandia Investment Management LP bought a new stake in BETA Technologies during the fourth quarter worth $26,000. Rockefeller Capital Management L.P. bought a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth $38,000. Wolff Wiese Magana LLC acquired a new position in shares of BETA Technologies during the 4th quarter worth $42,000. Finally, California State Teachers Retirement System acquired a new position in shares of BETA Technologies during the 1st quarter worth $27,000.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BETA. Cantor Fitzgerald cut their price objective on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group dropped their price target on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Morgan Stanley cut their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, March 10th. BTIG Research reduced their price target on BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.11.

Get Our Latest Stock Analysis on BETA Technologies

About BETA Technologies

(Get Free Report)

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.

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