Key Points
- Insider selling: Kyle Clark sold 10,000 BETA Technologies shares at an average of $19.92, generating $199,200. He retained 4,965,936 shares, with the sale reducing his ownership by 0.20%.
- Clark has made a series of 10,000-share sales throughout October, selling shares at prices ranging from $17.58 to $20.66.
- BETA reported a quarterly EPS loss of $0.64, below the $0.56 consensus estimate, while analysts maintain a “Moderate Buy” consensus and average price target of $31.50 versus the stock’s reported price near $20.04.
BETA Technologies Inc (NYSE:BETA - Get Free Report) insider Kyle Clark sold 10,000 shares of the stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $19.92, for a total transaction of $199,200.00. Following the transaction, the insider directly owned 4,965,936 shares of the company's stock, valued at $98,921,445.12. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Kyle Clark also recently made the following trade(s):
- On Wednesday, October 28th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $20.24, for a total value of $202,400.00.
- On Friday, October 23rd, Kyle Clark sold 10,000 shares of BETA Technologies stock. The shares were sold at an average price of $19.19, for a total transaction of $191,900.00.
- 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 transaction of $197,600.00.
- On Wednesday, October 21st, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was sold at an average price of $19.06, for a total value of $190,600.00.
- On Monday, October 19th, Kyle Clark sold 10,000 shares of BETA Technologies stock. The stock was 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 shares were 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 shares were sold at an average price of $17.58, for a total value of $175,800.00.
- 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 stock was 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 transaction of $201,900.00.
BETA Technologies Stock Down 2.6%
Shares of NYSE BETA opened at $20.04 on Friday. BETA Technologies Inc has a 12 month low of $13.43 and a 12 month high of $39.50. 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 $20.85 and a 200-day simple moving average of $19.13.
BETA Technologies (NYSE:BETA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.64) earnings per share (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 net margin of 1,913.91% and a negative return on equity of 96.24%. Sell-side analysts anticipate that BETA Technologies Inc will post -2.25 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $31.00 price target on shares of BETA Technologies in a report on Monday, October 5th. Citigroup restated a "buy" rating on shares of BETA Technologies in a report on Thursday, August 13th. Weiss Ratings raised BETA Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, September 14th. Barclays began coverage on BETA Technologies in a research report on Friday, October 9th. They issued an "overweight" rating and a $35.00 price objective for the company. Finally, Wall Street Zen lowered BETA Technologies from a "hold" rating to a "sell" rating in a research note on Saturday, October 24th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.50.
Check Out Our Latest Report on BETA Technologies
Hedge Funds Weigh In On BETA Technologies
Several institutional investors and hedge funds have recently bought and sold shares of BETA. Bank of New York Mellon Corp purchased a new position in BETA Technologies during the first quarter worth approximately $1,162,000. Masters Capital Management LLC acquired a new stake in BETA Technologies during the 1st quarter worth approximately $10,290,000. Cliftonlarsonallen Wealth Advisors LLC acquired a new stake in shares of BETA Technologies in the third quarter worth $2,905,000. Quantinno Capital Management LP acquired a new stake in BETA Technologies in the 1st quarter valued at $1,115,000. Finally, Corient Private Wealth LP grew its stake in shares of BETA Technologies by 116.0% in 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.
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 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.
Further Reading
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