Insider Selling: Archer Aviation (NYSE:ACHR) CFO Sells 10,015 Shares

Key Points

• Archer Aviation CFO Priya Gupta sold 10,015 shares at an average price of $6.41, generating approximately $64,196. The sale covered tax withholding obligations tied to vested equity awards and reduced her ownership by 4.71%.
• Archer shares fell 1.5% to $6.29 during Tuesday trading. The company recently reported a quarterly loss of $0.34 per share, in line with estimates, while revenue of $5 million exceeded expectations.
• Analyst sentiment is mixed, with five Buy, three Hold and one Sell ratings; the average rating is Hold and the average price target is $11.50, well above the current share price.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Priya Gupta sold 10,015 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the sale, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Archer Aviation Stock Down 1.5%

NYSE:ACHR traded down $0.10 during trading hours on Tuesday, hitting $6.29. 31,776,667 shares of the stock traded hands, compared to its average volume of 45,770,936. The firm has a 50 day moving average price of $5.23 and a 200 day moving average price of $5.90. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -5.83 and a beta of 3.20. Archer Aviation Inc. has a fifty-two week low of $4.30 and a fifty-two week high of $14.62. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to analysts' expectations of $1.94 million. Equities research analysts anticipate that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ACHR shares. Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. HC Wainwright reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Barclays raised Archer Aviation to a "hold" rating in a research note on Wednesday, July 29th. UBS Group reiterated an "overweight" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $11.50.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Gould Capital LLC grew its stake in shares of Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock valued at $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio bought a new position in Archer Aviation in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its stake in Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock valued at $28,000 after buying an additional 3,335 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Archer Aviation in the fourth quarter worth about $29,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Archer Aviation in the 4th quarter valued at approximately $32,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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