Key Points
- Insider sale: BETA Technologies insider Kyle Clark sold 10,000 shares at an average price of $21.30, generating $213,000. He retained 5,155,936 shares worth approximately $109.8 million.
- Pattern of selling: Clark has sold multiple batches of BETA shares since August, including 10,000 shares each on October 1 and September 29, plus larger sales earlier in the period.
- Mixed fundamentals, positive analyst view: BETA reported a quarterly loss of $0.64 per share versus the $0.56 expected, while analysts maintain a “Moderate Buy” consensus with an average price target of $31.11, above the reported stock price of $20.88.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction on Monday, October 5th. The stock was sold at an average price of $21.30, for a total value of $213,000.00. Following the transaction, the insider owned 5,155,936 shares in the company, valued at approximately $109,821,436.80. This represents a 0.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Kyle Clark also recently made the following trade(s):
- On Thursday, October 1st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.00, for a total transaction of $220,000.00.
- On Tuesday, September 29th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $22.62, for a total transaction of $226,200.00.
- On Saturday, September 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.32, for a total transaction of $233,200.00.
- On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $23.04, for a total transaction of $230,400.00.
- On Friday, August 21st, Kyle Clark sold 23,205 shares of BETA Technologies stock. The shares were sold at an average price of $25.22, for a total transaction of $585,230.10.
- On Wednesday, August 19th, Kyle Clark sold 30,000 shares of BETA Technologies stock. The shares were sold at an average price of $26.74, for a total transaction 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 transaction 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 transaction 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 stock was sold at an average price of $23.47, for a total value of $352,050.00.
BETA Technologies Price Performance
BETA stock opened at $20.88 on Wednesday. The business has a fifty day moving average of $22.14 and a two-hundred day moving average of $18.65. The company has a quick ratio of 14.47, a current ratio of 14.47 and a debt-to-equity ratio of 0.11. The stock has a market cap of $4.71 billion and a price-to-earnings ratio of -1.60. BETA Technologies Inc has a 52-week low of $13.43 and a 52-week high of $39.50.
BETA Technologies (NYSE:BETA - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.08). The business had revenue of $14.66 million during the quarter. BETA Technologies had a negative net margin of 1,913.91% and a negative return on equity of 96.24%. As a group, research analysts anticipate that BETA Technologies Inc will post -2.25 earnings per share for the current year.
Institutional Investors Weigh In On BETA Technologies
Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in shares of BETA Technologies by 26.0% during 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. Rockefeller Capital Management L.P. purchased a new position in BETA Technologies in the fourth quarter valued at $35,000. Allworth Financial LP grew its stake in BETA Technologies by 257.2% during the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company's stock worth $30,000 after purchasing an additional 1,286 shares in the last quarter. Manchester Capital Management LLC acquired a new position in BETA Technologies during the 4th quarter worth $38,000. Finally, IFP Advisors Inc increased its holdings in BETA Technologies by 555.6% during the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company's stock worth $30,000 after purchasing an additional 1,528 shares during the period.
Analyst Ratings Changes
BETA has been the subject of a number of recent analyst reports. Citigroup reiterated a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. Needham & Company LLC reissued a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a research report on Wednesday, August 12th. Weiss Ratings upgraded BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $31.00 price objective on shares of BETA Technologies in a research note on Monday. Finally, BTIG Research reissued a "buy" rating and set a $33.00 target price on shares of BETA Technologies in a research note on Thursday, August 13th. 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.com, BETA Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $31.11.
View Our Latest Analysis on BETA Technologies
BETA Technologies Company Profile
(
Get Free Report)
BETA Technologies is an aerospace company developing electric aircraft and the infrastructure needed to support electric aviation. Founded in 2017 and headquartered in Vermont, the company focuses on designing, certifying and manufacturing electric vertical takeoff and landing (eVTOL) and conventional takeoff and landing (CTOL) aircraft.
Its aircraft family includes the ALIA VTOL and ALIA CTOL models, which are designed for applications such as cargo transport, passenger travel, medical logistics and defense missions.
Further Reading
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