Shares of BETA Technologies Inc (NYSE:BETA – Get Free Report) gapped down before the market opened on Monday after an insider sold shares in the company. The stock had previously closed at $27.12, but opened at $26.10. BETA Technologies shares last traded at $28.1940, with a volume of 415,667 shares traded.
Specifically, insider Kyle Clark sold 10,000 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $28.05, for a total transaction of $280,500.00. Following the completion of the transaction, the insider owned 4,905,936 shares in the company, valued at approximately $137,611,504.80. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kyle Clark sold 10,000 shares of BETA Technologies stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $26.39, for a total transaction of $263,900.00. Following the completion of the transaction, the insider directly owned 4,915,936 shares of the company’s stock, valued at approximately $129,731,551.04. This trade represents a 0.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In other news, insider Kyle Clark sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $24.90, for a total transaction of $249,000.00. Following the completion of the sale, the insider directly owned 4,925,936 shares in the company, valued at approximately $122,655,806.40. This represents a 0.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Weiss Ratings raised BETA Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. Wall Street Zen upgraded BETA Technologies from a “sell” rating to a “hold” rating in a report on Sunday, November 1st. BTIG Research restated a “buy” rating and issued a $33.00 target price on shares of BETA Technologies in a research note on Friday, November 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $31.00 price objective on shares of BETA Technologies in a report on Wednesday, November 4th. Finally, Barclays assumed coverage on shares of BETA Technologies in a research note on Friday, October 9th. They set an “overweight” rating and a $35.00 target price for the company. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BETA Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $30.70.
Get Our Latest Stock Analysis on BETA
BETA Technologies Stock Up 1.6%
The business’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $19.07. The company has a current ratio of 11.51, a quick ratio of 11.51 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.46 billion and a PE ratio of -7.64.
BETA Technologies (NYSE:BETA – Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. The firm had revenue of $17.67 million during the quarter. BETA Technologies had a negative return on equity of 32.36% and a negative net margin of 1,007.80%. The business’s revenue for the quarter was up 98.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($9.83) EPS. As a group, equities research analysts expect that BETA Technologies Inc will post -2.22 earnings per share for the current year.
Hedge Funds Weigh In On BETA Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new position in shares of BETA Technologies in the first quarter valued at approximately $27,000. Allworth Financial LP boosted its holdings in shares of BETA Technologies by 257.2% in the 2nd quarter. Allworth Financial LP now owns 1,786 shares of the company’s stock valued at $30,000 after buying an additional 1,286 shares in the last quarter. IFP Advisors Inc grew its position in shares of BETA Technologies by 555.6% in the 2nd quarter. IFP Advisors Inc now owns 1,803 shares of the company’s stock valued at $30,000 after buying an additional 1,528 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of BETA Technologies in the 4th quarter valued at $35,000. Finally, Parallel Advisors LLC raised its stake in BETA Technologies by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 3,323 shares of the company’s stock worth $49,000 after acquiring an additional 685 shares in the last quarter.
About BETA Technologies
BETA Technologies is an aerospace company that develops electric aircraft, electric propulsion systems and supporting charging infrastructure. Founded in 2017 by pilot and engineer Kyle Clark, the company is based in South Burlington, Vermont, and Clark serves as its chief executive officer. Its aircraft include the ALIA-250, designed for vertical takeoff and landing, and the CX300, a conventional takeoff-and-landing electric aircraft. BETA is developing these platforms for applications such as cargo transport, medical logistics and defense, with an emphasis on quieter, lower-emission flight.
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