Key Points
- Insider sale: BETA Technologies insider Kyle Clark sold 15,000 shares on June 22 at an average price of $15.74, bringing in about $236,100. After the transaction, he still owned 5.66 million shares.
- Recent selling trend: Clark has also sold 15,000 shares on each of June 18 and June 16, plus two larger sales on May 7, indicating a steady pattern of insider selling in recent weeks.
- Business and stock snapshot: BETA Technologies last reported a smaller-than-expected quarterly loss of $0.53 per share on revenue of $10.13 million, while analysts currently rate the stock a Moderate Buy with an average target price of $31.11.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,000 shares of the stock in a transaction 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 sale, the insider owned 5,659,837 shares of the company's stock, valued at approximately $89,085,834.38. This represents a 0.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
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 shares were 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 value of $1,219,403.52.
BETA Technologies Price Performance
Shares of NYSE BETA opened at $15.87 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 21.37 and a current ratio of 21.36. The company has a market cap of $3.53 billion and a PE ratio of -1.28. The business has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $20.32. BETA Technologies Inc has a fifty-two week low of $13.43 and a fifty-two week high of $39.50.
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 (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. The business's quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that BETA Technologies Inc will post -2.13 EPS for the current fiscal year.
Hedge Funds Weigh In On BETA Technologies
Hedge funds and other institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP purchased a new position in BETA Technologies during the 4th quarter worth approximately $26,000. California State Teachers Retirement System purchased a new stake in shares of BETA Technologies in the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. purchased a new stake in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC acquired a new stake in shares of BETA Technologies in the fourth quarter worth $38,000. Finally, Wolff Wiese Magana LLC acquired a new stake in shares of BETA Technologies in the fourth quarter worth $42,000.
Analysts Set New Price Targets
Several research firms have weighed in on BETA. BTIG Research dropped their target price on shares of BETA Technologies from $40.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. Needham & Company LLC reiterated a "buy" rating and set a $34.00 price objective on shares of BETA Technologies in a research note on Wednesday, May 13th. Cantor Fitzgerald dropped their price objective 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. Finally, Jefferies Financial Group cut their target price on BETA Technologies from $30.00 to $29.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th. Nine equities research 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.11.
Check Out Our Latest Research Report on BETA Technologies
BETA Technologies Company Profile
(
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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