Adam D. Goldstein Sells 805,170 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Archer Aviation Trading Up 4.4 %

Shares of ACHR opened at $6.04 on Friday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.01. The stock has a market capitalization of $2.57 billion, a P/E ratio of -4.55 and a beta of 2.29. The business’s 50-day moving average price is $3.42 and its 200 day moving average price is $3.65.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business posted ($0.19) EPS. Analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ACHR. Needham & Company LLC assumed coverage on Archer Aviation in a research note on Tuesday. They set a “buy” rating and a $11.00 target price for the company. Benchmark restated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. HC Wainwright began coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Institutional Trading of Archer Aviation

Hedge funds have recently modified their holdings of the business. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the third quarter valued at $26,000. Hollencrest Capital Management grew its stake in Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares in the last quarter. CWM LLC increased its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares during the period. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the third quarter worth approximately $30,000. Finally, Azzad Asset Management Inc. ADV acquired a new stake in shares of Archer Aviation during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.