Archer Aviation Inc. (NYSE:ACHR) Insider Sells 33,335 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the sale, the insider now directly owns 262,673 shares in the company, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Tosha Perkins also recently made the following trade(s):

• On Tuesday, March 4th, Tosha Perkins sold 49,273 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $379,402.10.

Archer Aviation Stock Performance

Archer Aviation stock traded down $0.16 during mid-day trading on Tuesday, reaching $6.96. 20,537,891 shares of the company traded hands, compared to its average volume of 19,553,241. The firm’s fifty day moving average is $8.67 and its two-hundred day moving average is $6.94. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -5.27 and a beta of 3.14. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. 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 quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ACHR shares. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald increased their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth about $27,000. Conquis Financial LLC purchased a new position in Archer Aviation during the 4th quarter worth approximately $29,000. Harbour Investments Inc. raised its position in Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares during the last quarter. Oarsman Capital Inc. lifted its stake in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during 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.