Key Points
- Insider selling: BETA Technologies founder Kyle Clark sold 10,000 shares for $230,400, reducing his ownership by 0.19% to 5.23 million shares. The sale follows multiple additional disposals totaling tens of thousands of shares since August.
- Financial performance: BETA shares opened at $22.81 after trading down 4.4%; the company reported a quarterly loss of $0.64 per share versus the $0.56 consensus estimate, on revenue of $14.66 million.
- Analyst outlook: Despite the losses and insider selling, analysts maintain a “Moderate Buy” consensus, with an average price target of $31.11 compared with the reported share price.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the business's stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $23.04, for a total transaction of $230,400.00. Following the sale, the insider owned 5,225,936 shares in the company, valued at $120,405,565.44. This trade represents a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Kyle Clark also recently made the following trade(s):
- On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.32, for a total transaction of $233,200.00.
- On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The stock was sold at an average price of $25.22, for a total value of $585,230.10.
- On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $26.74, for a total value of $802,200.00.
- On Monday, August 17th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The stock was sold at an average price of $25.08, for a total value of $752,400.00.
- On Friday, August 14th, Kyle Clark sold 17,800 shares of BETA Technologies stock. The shares were sold at an average price of $24.66, for a total value of $438,948.00.
- On Thursday, August 13th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $25.42, for a total value of $762,600.00.
- On Wednesday, August 12th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.47, for a total value of $352,050.00.
- On Tuesday, August 11th, Kyle Clark sold 17,005 shares of BETA Technologies stock. The shares were sold at an average price of $24.46, for a total value of $415,942.30.
- On Monday, August 10th, Kyle Clark sold 15,891 shares of BETA Technologies stock. The shares were sold at an average price of $24.24, for a total transaction of $385,197.84.
- On Friday, August 7th, Kyle Clark sold 15,000 shares of BETA Technologies stock. The shares were sold at an average price of $23.25, for a total value of $348,750.00.
BETA Technologies Trading Down 4.4%
Shares of BETA opened at $22.81 on Tuesday. The business's 50-day moving average price is $21.75 and its 200 day moving average price is $18.44. The stock has a market capitalization of $5.14 billion and a P/E ratio of -1.75. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. BETA Technologies Inc has a 1-year low of $13.43 and a 1-year high of $39.50.
BETA Technologies (NYSE:BETA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The business had revenue of $14.66 million for the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. Analysts expect that BETA Technologies Inc will post -2.25 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. BTIG Research reissued a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reiterated a "buy" rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, August 12th. Cantor Fitzgerald reissued an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a research report on Thursday, August 13th. Weiss Ratings raised shares of BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Finally, Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $31.11.
Check Out Our Latest Analysis on BETA
Institutional Trading of BETA Technologies
Several hedge funds have recently modified their holdings of BETA. TPG GP A LLC acquired a new stake in shares of BETA Technologies in the fourth quarter valued at approximately $462,515,000. Amazon Com Inc. acquired a new position in BETA Technologies during the 4th quarter worth $331,577,000. Norges Bank bought a new position in BETA Technologies in the 4th quarter valued at $41,485,000. Masters Capital Management LLC bought a new position in BETA Technologies in the 1st quarter valued at $10,290,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of BETA Technologies in the 4th quarter valued at $18,402,000.
BETA Technologies Company Profile
(
Get Free Report)
BETA Technologies is an electric aerospace company based in South Burlington, Vermont. Founded in 2017 by Kyle Clark, the company develops electric aircraft and the supporting infrastructure intended to enable lower-emission regional air transportation.
BETA's aircraft portfolio includes the ALIA CTOL conventional takeoff and landing aircraft and the ALIA VTOL vertical takeoff and landing aircraft. The company is developing these platforms for applications including cargo transportation, passenger service, medical logistics, and defense operations.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
