Archer Aviation Inc. (NYSE:ACHR) Insider Tosha Perkins Sells 33,335 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now owns 262,673 shares of the company’s stock, valued at $1,849,217.92. The trade was a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Tosha Perkins also recently made the following trade(s):

• On Tuesday, March 4th, Tosha Perkins sold 49,273 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $379,402.10.

Archer Aviation Stock Down 2.2 %

ACHR opened at $6.96 on Wednesday. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -5.27 and a beta of 3.14. The firm has a 50 day moving average price of $8.67 and a 200-day moving average price of $6.94. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Needham & Company LLC boosted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation during the 4th quarter valued at about $27,000. Conquis Financial LLC purchased a new position in shares of Archer Aviation in the fourth quarter worth approximately $29,000. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after buying an additional 2,547 shares during the period. Harbour Investments Inc. increased its holdings in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC raised its position in Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the period. 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.