Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CFO Sells 62,258 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 62,258 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. The trade was a 8.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Archer Aviation Stock Up 1.2 %

ACHR stock opened at $7.98 on Wednesday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month 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. The company has a market capitalization of $3.39 billion, a P/E ratio of -6.04 and a beta of 3.13. The firm has a 50 day simple moving average of $9.56 and a 200-day simple moving average of $6.31.

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

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Archer Aviation during the fourth quarter worth $27,000. Conquis Financial LLC bought a new position in Archer Aviation during the fourth quarter worth $29,000. Oarsman Capital Inc. lifted its stake in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ACHR. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC increased 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. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two 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 stock has an average rating of “Moderate Buy” and an average price target 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.