Archer Aviation Inc. (NYSE:ACHR) Insider Sells $379,402.10 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 49,273 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the sale, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $8.13 on Thursday. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -6.16 and a beta of 3.13. The company has a 50 day moving average price of $9.50 and a 200 day moving average price of $6.34. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ACHR. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC upped their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently modified their holdings of the company. Total Wealth Planning & Management Inc. purchased a new stake in Archer Aviation during the 4th quarter worth $450,000. Infinitum Asset Management LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth about $10,844,000. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter worth about $27,000. PharVision Advisers LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $187,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Archer Aviation by 62.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock valued at $5,446,000 after buying an additional 215,593 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.