Key Points
- Insider selling: BETA Technologies insider Kyle Clark sold 10,000 shares for $201,900, reducing his stake by 0.19% to 5.14 million shares. The sale was part of a series of recent transactions totaling more than $3.8 million.
- Stock and financial performance: BETA shares opened at $20.96, with a market capitalization of $4.73 billion. The company reported a quarterly loss of $0.64 per share, missing estimates, on revenue of $14.66 million.
- Analyst outlook remains positive: Ten analysts rate the stock a Buy, one rates it Hold and one rates it Sell. The consensus rating is Moderate Buy, with an average price target of $31.50 versus the recent share price.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the company's stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $20.19, for a total transaction of $201,900.00. Following the transaction, the insider owned 5,135,936 shares of the company's stock, valued at approximately $103,694,547.84. This represents a 0.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Kyle Clark also recently made the following trade(s):
- On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.66, for a total value of $206,600.00.
- On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $21.30, for a total value of $213,000.00.
- 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 shares were sold at an average price of $23.32, for a total value 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 value of $230,400.00.
- 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 transaction 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 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 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 transaction of $438,948.00.
BETA Technologies Price Performance
BETA Technologies stock opened at $20.96 on Friday. The stock has a market cap of $4.73 billion and a price-to-earnings ratio of -1.61. The company has a debt-to-equity ratio of 0.11, a current ratio of 14.47 and a quick ratio of 14.47. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50. The firm has a 50-day moving average of $22.30 and a two-hundred day moving average of $18.74.
BETA Technologies (NYSE:BETA - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The firm had revenue of $14.66 million for the quarter. BETA Technologies had a negative return on equity of 96.24% and a negative net margin of 1,913.91%. On average, research analysts forecast that BETA Technologies Inc will post -2.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have commented on BETA. BTIG Research reissued a "buy" rating and set a $33.00 price target on shares of BETA Technologies in a research report on Thursday, August 13th. Citigroup reaffirmed a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $31.00 price objective on shares of BETA Technologies in a research note on Monday, October 5th. Barclays began coverage on shares of BETA Technologies in a research report on Friday. They set an "overweight" rating and a $35.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $34.00 target price on shares of BETA Technologies in a research note on Wednesday, August 12th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, BETA Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $31.50.
View Our Latest Research Report on BETA Technologies
Institutional Investors Weigh In On BETA Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TPG GP A LLC acquired a new stake in BETA Technologies in the fourth quarter worth about $462,515,000. Masters Capital Management LLC acquired a new position in shares of BETA Technologies during the first quarter valued at about $10,290,000. HITE Hedge Asset Management LLC acquired a new position in shares of BETA Technologies during the fourth quarter valued at about $17,289,000. Granahan Investment Management LLC purchased a new position in shares of BETA Technologies in the 4th quarter valued at approximately $12,366,000. Finally, Bank of America Corp DE raised its position in shares of BETA Technologies by 117.2% in the 1st quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock valued at $5,117,000 after purchasing an additional 187,807 shares during the last quarter.
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.
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