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 firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction 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. This trade represents a 16.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Archer Aviation Price Performance

Archer Aviation stock traded up $0.73 during trading on Thursday, reaching $5.79. The company had a trading volume of 39,679,805 shares, compared to its average volume of 8,925,229. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm’s 50-day simple moving average is $3.37 and its 200 day simple moving average is $3.63. The firm has a market capitalization of $2.46 billion, a PE ratio of -4.39 and a beta of 2.29. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.01.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the business posted ($0.19) EPS. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday. They set a “buy” rating and a $11.00 price target on the stock. Finally, HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective for the company. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in shares of Archer Aviation by 266.5% in the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock valued at $191,000 after purchasing an additional 30,075 shares in the last quarter. Swiss National Bank grew its holdings in Archer Aviation by 2.3% in the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after buying an additional 8,500 shares in the last quarter. Blair William & Co. IL acquired a new stake in shares of Archer Aviation in the 1st quarter worth $266,000. CreativeOne Wealth LLC purchased a new position in shares of Archer Aviation during the 1st quarter worth $117,000. Finally, Axxcess Wealth Management LLC boosted its position in shares of Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after acquiring an additional 9,713 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.