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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $15.74, for a total value of $236,100.00. Following the completion of the sale, the insider directly owned 5,659,837 shares in the company, valued at approximately $89,085,834.38. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.78, for a total value of $236,700.00.
• On Tuesday, June 16th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.89, for a total value of $238,350.00.
• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The shares were 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 transaction of $1,219,403.52.

BETA Technologies Price Performance

NYSE BETA traded up $0.14 on Tuesday, hitting $15.87. The company had a trading volume of 1,429,792 shares, compared to its average volume of 1,500,025. The company has a market capitalization of $3.53 billion and a PE ratio of -1.28. The company’s fifty day moving average price is $16.78 and its 200-day moving average price is $20.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. BETA Technologies Inc has a 12-month low of $13.43 and a 12-month high of $39.50.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BETA. 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, May 13th. Morgan Stanley cut their price objective 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. The Goldman Sachs Group lowered their price target on BETA Technologies from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Cantor Fitzgerald reduced their price objective on BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group decreased their price objective on BETA Technologies from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Nine equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.11.

Institutional Inflows and Outflows

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

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.