Archer Aviation Inc. (NYSE:ACHR) CEO Sells $3,727,937.10 in Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This trade represents a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Archer Aviation Trading Up 4.5 %

Shares of NYSE:ACHR opened at $6.04 on Friday. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.57 billion, a PE ratio of -4.58 and a beta of 2.29. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $7.01. The firm has a fifty day moving average price of $3.48 and a 200 day moving average price of $3.66.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the company posted ($0.19) earnings per share. Analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently added to or reduced their stakes in ACHR. Janney Montgomery Scott LLC lifted its stake in shares of Archer Aviation by 266.5% in the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after buying an additional 30,075 shares during the last quarter. Swiss National Bank lifted its position in Archer Aviation by 2.3% during the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after acquiring an additional 8,500 shares during the last quarter. Blair William & Co. IL bought a new stake in Archer Aviation during the first quarter valued at about $266,000. CreativeOne Wealth LLC acquired a new stake in shares of Archer Aviation in the first quarter valued at about $117,000. Finally, Axxcess Wealth Management LLC increased its stake in shares of Archer Aviation by 48.0% in the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after purchasing an additional 9,713 shares during the period. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ACHR. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.33.

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.