Key Points
- Insider selling: Kyle Clark sold 10,000 BETA Technologies shares at an average price of $17.58, generating $175,800. He retained 5,085,936 shares, and has made multiple sales totaling 10,000 shares per transaction in recent weeks.
- Stock performance and finances: BETA shares opened at $17.66, down 3.0%, with a 12-month range of $13.43 to $39.50. 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 Buy, one rates it Hold and one rates it Sell, resulting in a Moderate Buy consensus and an average price target of $31.50.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $17.58, for a total value of $175,800.00. Following the completion of the sale, the insider directly owned 5,085,936 shares of the company's stock, valued at $89,410,754.88. The trade was a 0.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Kyle Clark also recently made the following trade(s):
- On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.91, for a total value of $199,100.00.
- On Friday, October 9th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.66, for a total value of $206,600.00.
- On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $20.19, for a total value of $201,900.00.
- 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 value 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 value 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 transaction of $233,200.00.
- On Thursday, September 24th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were 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 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.
BETA Technologies Stock Down 3.0%
Shares of BETA stock opened at $17.66 on Thursday. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. The stock has a market cap of $3.98 billion and a P/E ratio of -1.36. The company has a current ratio of 14.47, a quick ratio of 14.47 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $22.14 and a two-hundred day simple moving average of $18.84.
BETA Technologies (NYSE:BETA - Get Free Report) last released 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 during 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 expect that BETA Technologies Inc will post -2.25 earnings per share for the current year.
Analyst Ratings Changes
Several research firms have recently commented on BETA. BTIG Research restated a "buy" rating and issued a $33.00 price objective on shares of BETA Technologies in a research note on Thursday, August 13th. Citigroup reiterated 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 target price on shares of BETA Technologies in a research report on Monday, October 5th. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 14th. Finally, Barclays began coverage on BETA Technologies in a research report on Friday, October 9th. They issued an "overweight" rating and a $35.00 price target for the company. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, BETA Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $31.50.
View Our Latest Report on BETA Technologies
Institutional Investors Weigh In On BETA Technologies
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Granahan Investment Management LLC purchased a new position in BETA Technologies during the fourth quarter valued at approximately $12,366,000. Masters Capital Management LLC bought a new position in shares of BETA Technologies in the first quarter worth approximately $10,290,000. Bank of America Corp DE boosted its position in shares of BETA Technologies by 117.2% in the first quarter. Bank of America Corp DE now owns 348,097 shares of the company's stock worth $5,117,000 after purchasing an additional 187,807 shares during the period. Cliftonlarsonallen Wealth Advisors LLC purchased a new stake in shares of BETA Technologies in the third quarter worth $2,905,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of BETA Technologies in the second quarter worth $2,877,000.
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.
Recommended Stories
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].
