Mark Mesler Sells 50,775 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Mark Mesler sold 50,775 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $659,567.25. Following the sale, the chief financial officer now owns 711,525 shares in the company, valued at $9,242,709.75. The trade was a 6.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Mark Mesler also recently made the following trade(s):

• On Monday, March 31st, Mark Mesler sold 34,498 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total transaction of $242,865.92.
• On Tuesday, March 4th, Mark Mesler sold 62,258 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60.

Archer Aviation Stock Up 8.9%

Shares of ACHR stock 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. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $14.35. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -10.05 and a beta of 3.13. 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 stock's 50 day moving average is $8.16 and its 200-day moving average is $8.11.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ACHR shares. Raymond James increased 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. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Tuesday. HC Wainwright reaffirmed a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Tuesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $13.00 target price on shares of Archer Aviation in a research report on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.61.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC purchased a new position in Archer Aviation in the fourth quarter valued at approximately $29,000. Oarsman Capital Inc. increased its stake in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares during the last quarter. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its holdings in shares of 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 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.

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