Mark Mesler Sells 34,498 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 34,498 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now owns 659,357 shares of the company’s stock, valued at approximately $4,641,873.28. The trade was a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mark Mesler also recently made the following trade(s):

• On Tuesday, March 4th, Mark Mesler sold 62,258 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $479,386.60.

Archer Aviation Stock Up 3.6 %

Archer Aviation stock opened at $7.21 on Thursday. The company’s 50-day moving average price is $8.61 and its two-hundred day moving average price is $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 Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACHR shares. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC lifted their price objective 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. Canaccord Genuity Group upped their target price 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. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Institutional Trading of Archer Aviation

Several institutional investors have recently modified their holdings of ACHR. ARK Investment Management LLC grew its holdings in Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares during the period. Vanguard Group Inc. grew its stake in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after purchasing an additional 2,908,859 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Archer Aviation by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after purchasing an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock valued at $48,748,000 after purchasing an additional 3,064,280 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Archer Aviation during the fourth quarter worth approximately $42,709,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.