Key Points
- Insider Kyle Clark sold 15,000 BETA Technologies shares on June 24 at an average price of $15.83, totaling $237,450. The sale reduced his position by just 0.27%, and it was disclosed in an SEC filing.
- Clark has been actively trimming his stake, with multiple recent sales of 15,000 shares each in late June and mid-June, plus larger sales in May. In total, the article shows a consistent pattern of insider selling.
- BETA Technologies shares were up 4.1% to $16.67 at the time of the report, while the company recently beat quarterly EPS estimates despite posting a loss. Analysts remain generally positive, with a “Moderate Buy” consensus and an average price target of $31.11.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $15.83, for a total transaction of $237,450.00. Following the sale, the insider owned 5,629,837 shares in the company, valued at approximately $89,120,319.71. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Kyle Clark also recently made the following trade(s):
- On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $16.51, for a total transaction of $247,650.00.
- 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 value 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 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 stock was 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 stock was sold at an average price of $18.12, for a total value of $1,219,403.52.
BETA Technologies Trading Up 4.1%
Shares of NYSE:BETA opened at $16.67 on Friday. 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 1 year low of $13.43 and a 1 year high of $39.50. The company has a market cap of $3.71 billion and a P/E ratio of -1.35. The stock's fifty day moving average price is $16.69 and its 200-day moving average price is $20.11.
BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.21. The business had revenue of $10.13 million during the quarter. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that BETA Technologies Inc will post -2.13 earnings per share for the current year.
Institutional Investors Weigh In On BETA Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. General Electric Co purchased a new position in BETA Technologies during the fourth quarter valued at approximately $644,962,000. Massachusetts Financial Services Co. MA bought a new stake in shares of BETA Technologies during the 4th quarter valued at $6,349,000. Vanguard Group Inc. purchased a new position in shares of BETA Technologies during the 4th quarter valued at $77,089,000. Liberty Street Advisors Inc. bought a new position in BETA Technologies in the 4th quarter worth $28,187,000. Finally, Pictet Asset Management Holding SA purchased a new stake in BETA Technologies in the 4th quarter worth $10,896,000.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on BETA shares. Cantor Fitzgerald cut their price target 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. Needham & Company LLC reissued a "buy" rating and issued a $34.00 price objective on shares of BETA Technologies in a report on Wednesday, May 13th. The Goldman Sachs Group reduced their target price on shares of BETA Technologies from $38.00 to $34.00 and set a "buy" rating for the company in a report on Monday, April 20th. Citigroup dropped their price target on shares of BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research note on Monday, May 18th. Finally, Morgan Stanley cut their price objective on shares of BETA Technologies from $34.00 to $33.00 and set an "overweight" rating for the company in a research report on Tuesday, March 10th. 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $31.11.
Get Our Latest Stock Analysis on BETA
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.
Further Reading
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