Archer Aviation Inc. (NYSE:ACHR) Director Michael Spellacy Sells 191,513 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) Director Michael Spellacy sold 191,513 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michael Spellacy also recently made the following trade(s):

• On Thursday, December 12th, Michael Spellacy sold 63,000 shares of Archer Aviation stock. The stock was sold at an average price of $7.10, for a total transaction of $447,300.00.

Archer Aviation Trading Up 12.7 %

Shares of ACHR opened at $9.49 on Friday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $10.58. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19. The company has a 50-day moving average of $5.48 and a 200 day moving average of $4.29. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its 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 firm posted ($0.19) earnings per share. On average, research analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ACHR shares. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target for the company. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.63.

Institutional Trading of Archer Aviation

A number of hedge funds have recently bought and sold shares of ACHR. Hollencrest Capital Management increased its holdings in shares of Archer Aviation by 50.0% in 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 during the last quarter. Townsquare Capital LLC increased its position in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the period. Tidal Investments LLC lifted its holdings in Archer Aviation by 29.9% in the third quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after purchasing an additional 3,341 shares during the period. Finally, CWM LLC boosted its stake in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares in the last quarter. Institutional investors and hedge funds 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.