Adam D. Goldstein Buys 19,762 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein acquired 19,762 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the acquisition, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Archer Aviation Trading Up 4.4 %

Archer Aviation stock opened at $6.04 on Friday. 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’s 50-day simple moving average is $3.42 and its 200-day simple moving average is $3.65. The firm has a market capitalization of $2.57 billion, a PE ratio of -4.55 and a beta of 2.29. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $7.01.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the business earned ($0.19) earnings per share. Equities research analysts forecast that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Needham & Company LLC assumed coverage on Archer Aviation in a report on Tuesday. They set a “buy” rating and a $11.00 target price on the stock. Finally, HC Wainwright assumed coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in ACHR. HBK Investments L P acquired a new stake in Archer Aviation during the third quarter valued at approximately $6,818,000. Alpine Global Management LLC acquired a new stake in Archer Aviation during the first quarter valued at approximately $5,782,000. Sora Investors LLC acquired a new stake in Archer Aviation during the third quarter valued at approximately $3,429,000. Intellectus Partners LLC boosted its holdings in Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after purchasing an additional 523,024 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after purchasing an additional 391,092 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.