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

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

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 Trading Down 1.9 %

ACHR traded down $0.17 during trading on Tuesday, reaching $8.53. The company had a trading volume of 15,478,012 shares, compared to its average volume of 21,424,807. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The stock has a market cap of $4.62 billion, a P/E ratio of -6.46 and a beta of 3.13. The business has a 50 day simple moving average of $7.72 and a 200-day simple moving average of $7.74.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the business. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the fourth quarter valued at $27,000. Conquis Financial LLC bought a new stake in Archer Aviation during the 4th quarter valued at about $29,000. Oarsman Capital Inc. grew its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after acquiring an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC raised its stake 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 valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ACHR. Needham & Company LLC reissued a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Monday, April 21st. HC Wainwright reiterated a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Canaccord Genuity Group upped 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. Raymond James raised 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. Finally, JPMorgan Chase & Co. cut shares of Archer Aviation from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.61.

About Archer Aviation

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.