Mark Mesler Sells 62,258 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 62,258 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Archer Aviation Stock Performance

Shares of ACHR traded up $0.10 during mid-day trading on Tuesday, reaching $7.98. The company’s stock had a trading volume of 29,942,203 shares, compared to its average volume of 33,566,488. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The stock has a market cap of $3.39 billion, a P/E ratio of -6.04 and a beta of 3.13. The business has a 50-day simple moving average of $9.56 and a two-hundred day simple moving average of $6.31. 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 released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC bought a new position in Archer Aviation during the 3rd quarter worth $26,000. Sunbelt Securities Inc. bought a new position in Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC bought a new position in Archer Aviation during the 4th quarter worth $29,000. Harbour Investments Inc. increased its stake 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 acquiring an additional 1,095 shares during the period. Finally, Oarsman Capital Inc. increased 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 worth $30,000 after acquiring an additional 2,547 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday. Finally, Needham & Company LLC raised their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.