Archer Aviation (NYSE:ACHR) CFO Priya Gupta Sells 5,479 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Priya Gupta sold 5,479 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the sale, the chief financial officer owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $7.59 on Wednesday. Archer Aviation Inc. has a one year low of $4.33 and a one year high of $14.62. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -6.02 and a beta of 3.07. The company has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $10.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). On average, analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reduced their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. JPMorgan Chase & Co. dropped their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, Cantor Fitzgerald set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, November 10th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.57.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. GAMMA Investing LLC boosted its position in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after purchasing an additional 2,024 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation in the third quarter valued at $29,000. Bank of Jackson Hole Trust grew its holdings in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after buying an additional 1,702 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.