Archer Aviation Inc. (NYSE:ACHR) Insider Tosha Perkins Sells 50,000 Shares

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Tosha Perkins sold 50,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $8.47, for a total value of $423,500.00. Following the transaction, the insider now owns 212,673 shares of the company's stock, valued at approximately $1,801,340.31. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• 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 shares were sold at an average price of $7.70, for a total transaction of $379,402.10.

Archer Aviation Stock Performance

Shares of ACHR stock traded up $0.79 during midday trading on Friday, hitting $9.27. 39,716,908 shares of the company were exchanged, compared to its average volume of 21,383,533. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The firm has a market capitalization of $5.03 billion, a P/E ratio of -7.02 and a beta of 3.16. The firm's 50 day moving average price is $7.70 and its two-hundred day moving average price is $7.67. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. As a group, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its position in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the period. Vanguard Group Inc. raised its stake in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 724,736 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after purchasing an additional 3,064,280 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Archer Aviation during the fourth quarter worth approximately $42,709,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group increased 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. Needham & Company LLC reissued a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.

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.