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

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $7.70, for a total value of $379,402.10.

Archer Aviation Price Performance

Shares of NYSE:ACHR traded down $0.16 during midday trading on Tuesday, hitting $6.96. The company’s stock had a trading volume of 20,537,891 shares, compared to its average volume of 19,553,241. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The company has a market cap of $3.77 billion, a P/E ratio of -5.27 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $6.94.

Archer Aviation (NYSE:ACHR) last issued its 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. On average, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on ACHR shares. HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC boosted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Raymond James lifted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its stake in shares of Archer Aviation by 27.1% in the 4th 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 last quarter. Renaissance Technologies LLC purchased a new stake in shares of Archer Aviation in the fourth quarter valued at about $42,709,000. Alyeska Investment Group L.P. increased its position 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 worth $48,748,000 after purchasing an additional 3,064,280 shares during the last quarter. Two Sigma Investments LP raised its stake in Archer Aviation by 3,166.8% during the fourth quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock worth $29,377,000 after purchasing an additional 2,920,752 shares during the period. Finally, Vanguard Group Inc. raised its stake in Archer Aviation by 21.4% during the fourth 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 period. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.