Archer Aviation Inc. (NYSE:ACHR) CFO Sells $479,386.60 in Stock

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

Archer Aviation Stock Performance

Shares of ACHR traded up $0.10 on Tuesday, reaching $7.98. 29,942,203 shares of the stock traded hands, compared to its average volume of 33,566,488. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -6.04 and a beta of 3.13. 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 Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The stock’s 50-day moving average price is $9.56 and its 200-day moving average price is $6.31.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. ARK Investment Management LLC grew its position in Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the period. Renaissance Technologies LLC bought a new stake in Archer Aviation in the fourth quarter valued at $42,709,000. Alyeska Investment Group L.P. grew its position in Archer Aviation by 158.3% in 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 acquiring an additional 3,064,280 shares during the period. Two Sigma Investments LP grew its position in Archer Aviation by 3,166.8% in the fourth quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock valued at $29,377,000 after acquiring an additional 2,920,752 shares during the period. Finally, Vanguard Group Inc. grew its position in Archer Aviation by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after acquiring an additional 2,908,859 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ACHR. HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday. Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC upped their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $11.61.

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.