Key Points
- Insider sale: BETA Technologies insider Kyle Clark sold 15,000 shares on June 16 at an average price of $15.89, generating $238,350. After the sale, he still owned about 5.7 million shares.
- Company performance: BETA recently reported a smaller-than-expected quarterly loss of $0.53 per share, beating estimates, while revenue rose 5.2% year over year to $10.13 million. The stock opened at $16.09, well below its 52-week high of $39.50.
- Analyst sentiment: Wall Street remains generally positive on BETA Technologies, with nine Buy ratings and a consensus Moderate Buy rating. The average price target stands at $31.11, implying significant upside from current levels.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $15.89, for a total transaction of $238,350.00. Following the completion of the sale, the insider owned 5,704,837 shares of the company's stock, valued at approximately $90,649,859.93. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $89,965.80.
- On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52.
BETA Technologies Price Performance
Shares of NYSE BETA opened at $16.09 on Friday. The company has a market capitalization of $3.58 billion and a PE ratio of -1.30. 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 stock's 50 day moving average price is $16.81 and its 200-day moving average price is $20.58. BETA Technologies Inc has a twelve month low of $13.43 and a twelve month high of $39.50.
BETA Technologies (NYSE:BETA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.74) by $0.21. The business had revenue of $10.13 million for the quarter. BETA Technologies's quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that BETA Technologies Inc will post -2.13 EPS for the current year.
Institutional Investors Weigh In On BETA Technologies
Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC boosted its holdings in shares of BETA Technologies by 26.0% in the first quarter. Parallel Advisors LLC now owns 3,323 shares of the company's stock worth $49,000 after acquiring an additional 685 shares during the period. Bank of America Corp DE raised its stake in shares of BETA Technologies by 117.2% during the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock valued at $5,117,000 after purchasing an additional 187,807 shares during the period. California State Teachers Retirement System bought a new stake in shares of BETA Technologies during the 1st quarter valued at $27,000. Readystate Asset Management LP lifted its holdings in BETA Technologies by 19.0% during the 1st quarter. Readystate Asset Management LP now owns 25,000 shares of the company's stock worth $368,000 after purchasing an additional 4,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in BETA Technologies by 246.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 34,186 shares of the company's stock worth $503,000 after purchasing an additional 24,312 shares in the last quarter.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on BETA shares. Morgan Stanley reduced 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. BTIG Research lowered their target price on BETA Technologies from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, May 20th. 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 report on Tuesday, March 10th. Cantor Fitzgerald reduced their price target on shares of BETA Technologies from $38.00 to $31.00 and set an "overweight" rating for the company in a research report on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. 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.com, BETA Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $31.11.
View Our Latest Stock Report on BETA
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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