Insider Selling: BETA Technologies (NYSE:BETA) Insider Sells $238,350.00 in Stock

BETA Technologies Inc (NYSE:BETA) insider Kyle Clark sold 15,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $15.89, for a total value of $238,350.00. Following the completion of the sale, the insider owned 5,704,837 shares in the company, valued at approximately $90,649,859.93. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Kyle Clark also recently made the following trade(s):

• On Thursday, May 7th, Kyle Clark sold 4,965 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $89,965.80.
• On Thursday, May 7th, Kyle Clark sold 67,296 shares of BETA Technologies stock. The stock was sold at an average price of $18.12, for a total value of $1,219,403.52.

BETA Technologies Price Performance

BETA stock opened at $16.09 on Friday. The business’s 50-day moving average is $16.80 and its two-hundred day moving average is $20.54. The company has a debt-to-equity ratio of 0.10, a current ratio of 21.36 and a quick ratio of 21.37. The firm has a market capitalization of $3.58 billion and a P/E ratio of -1.30. BETA Technologies Inc has a 1 year low of $13.43 and a 1 year high of $39.50.

BETA Technologies (NYSE:BETA) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.21. The company had revenue of $10.13 million for the quarter. BETA Technologies’s quarterly revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that BETA Technologies Inc will post -2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BETA Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Sandia Investment Management LP purchased a new stake in shares of BETA Technologies during the 4th quarter worth approximately $26,000. California State Teachers Retirement System acquired a new position in shares of BETA Technologies in the 1st quarter valued at $27,000. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Manchester Capital Management LLC purchased a new position in shares of BETA Technologies in the 4th quarter valued at $38,000. Finally, Wolff Wiese Magana LLC acquired a new stake in BETA Technologies during the 4th quarter worth $42,000.

Analyst Ratings Changes

Several research firms have commented on BETA. Needham & Company LLC reiterated a “buy” rating and set a $34.00 price target on shares of BETA Technologies in a report on Wednesday, May 13th. BTIG Research reduced their price objective on shares of BETA Technologies from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. Cantor Fitzgerald decreased their price objective on shares of BETA Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group lowered their target price on shares of BETA Technologies from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Citigroup dropped their target price on BETA Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.11.

About BETA Technologies

BETA Technologies is an American aerospace company that develops electric vertical takeoff and landing (eVTOL) aircraft and supporting infrastructure. The company focuses on designing aircraft and propulsion systems intended for short-range cargo, logistics and regional passenger movement, emphasizing electric propulsion, battery systems and integrated charging solutions to support distributed operations.

Its product and service set includes aircraft design and development, electric motor and battery integration, charging hardware and software, and flight testing aimed at meeting certification requirements.