Archer Aviation Inc. (NYSE:ACHR) Insider Sells $960,000.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Archer Aviation Trading Up 10.1 %

ACHR stock traded up $0.70 during trading on Thursday, reaching $7.66. The company had a trading volume of 57,176,637 shares, compared to its average volume of 10,944,718. The business has a 50 day moving average of $4.31 and a 200 day moving average of $3.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market cap of $3.26 billion, a P/E ratio of -5.80 and a beta of 3.19. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $9.84.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the firm posted ($0.19) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares during the last quarter. HBK Investments L P bought a new position in Archer Aviation during the 3rd quarter valued at approximately $6,818,000. Charles Schwab Investment Management Inc. raised its stake in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Archer Aviation by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares in the last quarter. Finally, Sora Investors LLC purchased a new stake in shares of Archer Aviation in the third quarter worth $3,429,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ACHR shares. Needham & Company LLC began coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Finally, HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.33.

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.