Archer Aviation Inc. (NYSE:ACHR) Insider Tosha Perkins Sells 49,273 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Archer Aviation Stock Up 1.2 %

Shares of ACHR stock traded up $0.10 during trading hours on Tuesday, hitting $7.98. 29,942,203 shares of the company’s stock traded hands, compared to its average volume of 33,566,488. The stock’s fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $6.31. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The stock 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 quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in Archer Aviation in the 4th quarter worth approximately $27,000. Conquis Financial LLC purchased a new position in Archer Aviation in the 4th quarter worth approximately $29,000. Oarsman Capital Inc. raised its holdings in Archer Aviation by 471.7% in 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 last quarter. Harbour Investments Inc. raised its holdings in Archer Aviation by 54.7% in 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 last quarter. Finally, Anchor Investment Management LLC raised its holdings in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC lifted their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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.