Archer Aviation Inc. (NYSE:ACHR) Insider Sells $522,016.14 in Stock

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Tosha Perkins sold 40,186 shares of Archer Aviation stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $522,016.14. Following the sale, the insider now directly owns 256,799 shares in the company, valued at approximately $3,335,819.01. This trade represents a 13.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tosha Perkins also recently made the following trade(s):

• On Thursday, May 1st, Tosha Perkins sold 50,000 shares of Archer Aviation stock. The stock was sold at an average price of $8.47, for a total value of $423,500.00.
• On Monday, March 31st, Tosha Perkins sold 33,335 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40.
• On Tuesday, March 4th, Tosha Perkins sold 49,273 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10.

Archer Aviation Price Performance

NYSE ACHR traded up $1.08 during trading hours on Friday, reaching $13.27. 71,502,560 shares of the company's stock were exchanged, compared to its average volume of 22,604,615. The stock has a market cap of $7.20 billion, a PE ratio of -10.05 and a beta of 3.13. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $14.35. The firm has a fifty day moving average of $8.16 and a 200-day moving average of $8.11. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ACHR. Canaccord Genuity Group lifted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Tuesday. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 target price on shares of Archer Aviation in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $11.61.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its holdings in Archer Aviation by 27.1% during 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. Vanguard Group Inc. boosted its position in Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock valued at $140,275,000 after buying an additional 3,249,106 shares during the last quarter. Geode Capital Management LLC boosted its position in Archer Aviation by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company's stock valued at $56,908,000 after buying an additional 724,736 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock valued at $48,748,000 after buying an additional 3,064,280 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Archer Aviation in the 4th quarter valued at $42,709,000. Institutional investors own 59.34% of the company's stock.

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.

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