Key Points
- Insider sale: Kyle Clark sold 15,000 BETA Technologies shares for $348,750 at an average price of $23.25, reducing his stake by 0.27% while retaining approximately 5.47 million shares worth $127.3 million.
- Stock and financial performance: BETA shares opened at $24.60, up 3.5%, and have risen significantly above their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.53 per share, though it beat estimates and generated $10.13 million in revenue, up 5.2% year over year.
- Analyst outlook: Despite several price-target reductions, nine analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The consensus rating is Moderate Buy, with an average price target of $31.11.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 15,000 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $23.25, for a total transaction of $348,750.00. Following the sale, the insider directly owned 5,474,837 shares in the company, valued at approximately $127,289,960.25. The trade was a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Kyle Clark also recently made the following trade(s):
- On Tuesday, August 11th, Kyle Clark sold 17,005 shares of BETA Technologies stock. The stock was sold at an average price of $24.46, for a total transaction of $415,942.30.
- On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The stock was sold at an average price of $24.24, for a total transaction of $385,197.84.
- On Wednesday, July 1st, Kyle Clark sold 15,000 shares of BETA Technologies stock. The stock was sold at an average price of $17.41, for a total transaction of $261,150.00.
- On Monday, June 29th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.38, for a total transaction of $245,700.00.
- On Friday, June 26th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $16.51, for a total transaction of $247,650.00.
- On Wednesday, June 24th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were 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 stock was 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 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 stock was sold at an average price of $15.89, for a total value of $238,350.00.
BETA Technologies Trading Up 3.5%
Shares of BETA stock opened at $24.60 on Wednesday. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The stock's 50 day simple moving average is $18.06 and its two-hundred day simple moving average is $17.78. The company has a market cap of $5.47 billion and a PE ratio of -1.99.
BETA Technologies (NYSE:BETA - Get Free Report) last announced its earnings results on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts' consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million during the quarter. BETA Technologies's revenue was up 5.2% on a year-over-year basis. Research analysts predict that BETA Technologies Inc will post -2.17 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. General Electric Co bought a new position in BETA Technologies in the fourth quarter worth approximately $644,962,000. Massachusetts Financial Services Co. MA bought a new stake in BETA Technologies during the 4th quarter valued at $6,349,000. Vanguard Group Inc. bought a new stake in BETA Technologies during the 4th quarter valued at $77,089,000. Liberty Street Advisors Inc. purchased a new stake in shares of BETA Technologies in the 4th quarter worth $28,187,000. Finally, Masters Capital Management LLC purchased a new stake in shares of BETA Technologies in the 1st quarter worth $10,290,000.
Analyst Upgrades and Downgrades
BETA has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price objective 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. Weiss Ratings upgraded shares of BETA Technologies from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, August 4th. BTIG Research dropped their price target 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. Cantor Fitzgerald cut 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. Finally, Citigroup reduced their price objective on shares of BETA Technologies from $33.00 to $25.00 and set a "buy" rating on the stock in a research report on Monday, May 18th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $31.11.
Read Our Latest 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.
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