Priya Gupta Sells 10,224 Shares of Archer Aviation (NYSE:ACHR) Stock

Key Points

• CFO Priya Gupta sold 10,224 shares of Archer Aviation (NYSE:ACHR) at an average price of $9.83, totaling approximately $100,501.92, resulting in a 6.50% decrease in her ownership.
• Archer Aviation reported a loss of ($0.36) earnings per share for the last quarter, missing analysts’ expectations by ($0.12).
• The company has a market capitalization of $5.10 billion and a share price that fluctuated recently, hitting a high of $13.92 and a low of $2.82 over the past year.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Priya Gupta sold 10,224 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Archer Aviation Price Performance

Shares of ACHR stock traded down $0.5550 during trading hours on Tuesday, hitting $9.2950. 28,132,719 shares of the company's stock were exchanged, compared to its average volume of 32,208,378. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $13.92. The firm has a market cap of $5.10 billion, a P/E ratio of -6.89 and a beta of 3.08. The firm has a 50 day moving average of $10.53 and a two-hundred day moving average of $9.39.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACHR. Marex Group plc acquired a new stake in shares of Archer Aviation in the second quarter valued at approximately $24,699,000. Asset Dedication LLC increased its position in Archer Aviation by 1,307.3% during the 2nd quarter. Asset Dedication LLC now owns 9,260 shares of the company's stock worth $100,000 after buying an additional 8,602 shares during the period. 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 worth $36,000 after purchasing an additional 1,702 shares during the period. Headlands Technologies LLC boosted its stake in Archer Aviation by 1,178.6% in the second quarter. Headlands Technologies LLC now owns 72,192 shares of the company's stock valued at $783,000 after buying an additional 66,546 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Archer Aviation by 407.6% during the second quarter. Tower Research Capital LLC TRC now owns 150,010 shares of the company's stock valued at $1,628,000 after purchasing an additional 120,459 shares in the last quarter. Institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Finally, HC Wainwright reissued a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of "Moderate Buy" and an average price target of $13.43.

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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