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

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of BETA Technologies stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $16.51, for a total value of $247,650.00. Following the completion of the sale, the insider owned 5,599,837 shares of the company’s stock, valued at $92,453,308.87. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $15.83, for a total transaction of $237,450.00.
• On Monday, June 22nd, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.74, for a total transaction of $236,100.00.
• On Thursday, June 18th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $15.78, for a total transaction 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 transaction 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 transaction 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 Stock Performance

Shares of NYSE:BETA opened at $16.67 on Friday. The firm has a 50 day moving average of $16.69 and a 200 day moving average of $20.11. The company has a quick ratio of 21.37, a current ratio of 21.36 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.71 billion and a price-to-earnings ratio of -1.35. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. General Electric Co acquired a new position in shares of BETA Technologies in the 4th quarter valued at about $644,962,000. TPG GP A LLC acquired a new position in BETA Technologies in the fourth quarter valued at approximately $462,515,000. Amazon Com Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $331,577,000. Vanguard Group Inc. acquired a new stake in shares of BETA Technologies during the 4th quarter worth approximately $77,089,000. Finally, Norges Bank purchased a new position in shares of BETA Technologies during the 4th quarter valued at approximately $41,485,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BETA. Cantor Fitzgerald lowered their price target on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, May 13th. BTIG Research reduced their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Citigroup lowered their target price on shares of BETA Technologies from $33.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Morgan Stanley dropped their price target on BETA Technologies from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 10th. Finally, The Goldman Sachs Group lowered their target price on shares of BETA Technologies from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, April 20th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, BETA Technologies has a consensus rating of “Moderate Buy” and an average target price of $31.11.

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.