Archer Aviation (NYSE:ACHR) Stock Price Down 0.8% After Insider Selling

Archer Aviation Inc. (NYSE:ACHR)’s share price traded down 0.8% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $6.73 and last traded at $7.06. 7,620,786 shares were traded during trading, a decline of 61% from the average session volume of 19,443,774 shares. The stock had previously closed at $7.11.

Specifically, General Counsel Eric Lentell sold 50,004 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now owns 45,416 shares of the company’s stock, valued at $319,728.64. This represents a 52.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Thomas Paul Muniz sold 52,958 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $372,824.32. Following the completion of the transaction, the chief technology officer now owns 1,173,905 shares of the company’s stock, valued at $8,264,291.20. The trade was a 4.32 % decrease in their position. The disclosure for this sale can be found here. In other Archer Aviation news, CFO Mark Mesler sold 34,498 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares in the company, valued at approximately $4,641,873.28. The trade was a 4.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

ACHR has been the subject of several recent analyst reports. Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft boosted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Up 3.6 %

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 business has a fifty day simple moving average of $8.61 and a 200 day simple moving average of $6.95. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -5.46 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of the company. EP Wealth Advisors LLC grew its stake in Archer Aviation by 6.7% in the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company’s stock worth $156,000 after acquiring an additional 1,000 shares during the period. Harbour Investments Inc. grew its position in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the period. Anchor Investment Management LLC grew its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the period. Sanctuary Advisors LLC increased its stake in Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Xponance Inc. lifted its position in Archer Aviation by 8.5% during the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after buying an additional 1,299 shares during the period. 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.