BETA Technologies (NYSE:BETA) Stock: Insider Sean Donovan Sells 6,684 Shares

BETA Technologies Inc (NYSE:BETA) COO Sean Donovan sold 6,684 shares of the stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $28.38, for a total transaction of $189,691.92. Following the completion of the sale, the chief operating officer directly owned 240,972 shares in the company, valued at $6,838,785.36. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Sean Donovan also recently made the following trade(s):

• On Tuesday, November 10th, Sean Donovan sold 16,483 shares of BETA Technologies stock. The stock was sold at an average price of $28.01, for a total transaction of $461,688.83.

BETA Technologies Trading Down 7.4%

Shares of NYSE:BETA traded down $1.87 during trading hours on Friday, hitting $23.29. 2,478,586 shares of the company’s stock traded hands, compared to its average volume of 1,991,854. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $32.80. The business has a fifty day moving average price of $21.60 and a 200-day moving average price of $19.08. The firm has a market capitalization of $5.27 billion and a P/E ratio of -6.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.51 and a quick ratio of 11.51.

BETA Technologies (NYSE:BETA) last released its earnings results on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The firm had revenue of $17.67 million for the quarter. During the same period in the prior year, the company posted ($9.83) EPS. The company’s quarterly revenue was up 98.6% compared to the same quarter last year. Equities analysts expect that BETA Technologies Inc will post -2.22 earnings per share for the current year.

Institutional Investors Weigh In On BETA Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Masters Capital Management LLC bought a new position in shares of BETA Technologies during the 1st quarter worth $10,290,000. Bank of America Corp DE increased its stake in shares of BETA Technologies by 117.2% during the first quarter. Bank of America Corp DE now owns 348,097 shares of the company’s stock valued at $5,117,000 after buying an additional 187,807 shares during the period. Composition Wealth LLC raised its holdings in shares of BETA Technologies by 361.5% in the third quarter. Composition Wealth LLC now owns 149,856 shares of the company’s stock valued at $3,312,000 after acquiring an additional 117,382 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC bought a new stake in shares of BETA Technologies in the third quarter valued at about $2,905,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of BETA Technologies in the second quarter valued at about $2,877,000.

Analyst Upgrades and Downgrades

Several brokerages have commented on BETA. Needham & Company LLC cut their price objective on BETA Technologies from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. Barclays assumed coverage on BETA Technologies in a research note on Friday, October 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Weiss Ratings upgraded BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 14th. Citigroup reissued a “buy” rating on shares of BETA Technologies in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered shares of BETA Technologies from a “hold” rating to a “sell” rating in a research note on Saturday. Nine equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BETA Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.70.

BETA Technologies Company Profile

BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer. Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.