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 the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Archer Aviation Stock Up 8.1 %

ACHR stock opened at $8.28 on Friday. 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 stock has a market capitalization of $3.52 billion, a P/E ratio of -6.27 and a beta of 3.19. The business has a 50-day moving average of $4.42 and a 200-day moving average of $3.94. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $9.84.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data 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 prior year, the business earned ($0.19) earnings per share. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACHR. Price T Rowe Associates Inc. MD boosted its position in Archer Aviation by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock valued at $321,000 after purchasing an additional 5,611 shares during the last quarter. Tidal Investments LLC acquired a new position in Archer Aviation during the first quarter valued at approximately $49,000. Cetera Advisors LLC acquired a new position in Archer Aviation during the first quarter valued at approximately $80,000. DNB Asset Management AS boosted its position in Archer Aviation by 195.1% during the second quarter. DNB Asset Management AS now owns 263,063 shares of the company’s stock valued at $926,000 after purchasing an additional 173,919 shares during the last quarter. Finally, CWM LLC boosted its position in Archer Aviation by 62.0% during the second 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 last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ACHR shares. HC Wainwright started coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. 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. Finally, Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price 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.