Key Points
- Insider Kyle Clark sold 10,000 BETA shares at an average price of $19.19, generating $191,900; he retained 5,015,936 shares valued at approximately $96.3 million.
- Clark has made a series of 10,000-share sales throughout October, selling at prices ranging from $17.58 to $22.00.
- BETA shares opened at $20.72, while analysts maintain a consensus “Moderate Buy” rating with a $31.50 price target; the company recently missed quarterly EPS expectations.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $19.19, for a total value of $191,900.00. Following the completion of the sale, the insider directly owned 5,015,936 shares in the company, valued at $96,255,811.84. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kyle Clark also recently made the following trade(s):
- On Monday, October 26th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.76, for a total value of $197,600.00.
- On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.06, for a total transaction of $190,600.00.
- On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $18.11, for a total transaction of $181,100.00.
- On Friday, October 16th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $18.51, for a total transaction of $185,100.00.
- On Wednesday, October 14th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $17.58, for a total transaction of $175,800.00.
- On Monday, October 12th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.91, for a total transaction 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 transaction of $206,600.00.
- On Wednesday, October 7th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.19, for a total transaction of $201,900.00.
- On Monday, October 5th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $21.30, for a total transaction 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.
BETA Technologies Stock Performance
NYSE BETA opened at $20.72 on Wednesday. BETA Technologies Inc has a 52 week low of $13.43 and a 52 week high of $39.50. The company has a 50-day moving average price of $21.21 and a two-hundred day moving average price of $19.25.
BETA Technologies (NYSE:BETA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The business had revenue of $14.66 million for the quarter. Equities research analysts expect that BETA Technologies Inc will post -2.25 earnings per share for the current fiscal year.
Hedge Funds Weigh In On BETA Technologies
Hedge funds have recently modified their holdings of the company. Masters Capital Management LLC bought a new stake in shares of BETA Technologies in the 1st quarter worth $10,290,000. Bank of America Corp DE lifted its holdings 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 valued at $5,117,000 after buying an additional 187,807 shares during the period. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of BETA Technologies in the third quarter valued at $2,905,000. Bank of New York Mellon Corp acquired a new stake in shares of BETA Technologies in the second quarter valued at $2,877,000. Finally, Corient Private Wealth LP boosted its stake in BETA Technologies by 116.0% during the second quarter. Corient Private Wealth LP now owns 151,118 shares of the company's stock valued at $2,531,000 after buying an additional 81,150 shares in the last quarter.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. Citigroup restated a "buy" rating on shares of BETA Technologies in a research report on Thursday, August 13th. BTIG Research reiterated a "buy" rating and set a $33.00 price target 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 price target on shares of BETA Technologies in a research note on Wednesday, October 21st. Cantor Fitzgerald reissued an "overweight" rating and issued a $31.00 price target on shares of BETA Technologies in a research note on Monday, October 5th. Finally, Barclays assumed coverage on BETA Technologies in a report on Friday, October 9th. They set an "overweight" rating and a $35.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BETA Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $31.50.
Check Out Our Latest Stock Analysis on BETA
About BETA Technologies
(
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 South Burlington, Vermont, the company focuses on zero-emission aircraft for cargo, logistics, passenger, medical and defense applications.
BETA's aircraft portfolio includes the ALIA electric vertical takeoff and landing (eVTOL) aircraft and the ALIA CTOL fixed-wing aircraft, which is designed for conventional runway operations.
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