Archer Aviation Inc. (NYSE:ACHR) CFO Sells $242,865.92 in Stock

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Mark Mesler sold 34,498 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. This trade represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 Down 3.8 %

NYSE:ACHR traded down $0.28 during mid-day trading on Thursday, hitting $6.93. 22,300,562 shares of the company's stock were exchanged, compared to its average volume of 19,626,072. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $12.48. The business has a fifty day moving average price of $8.61 and a 200 day moving average price of $6.95. The company has a market cap of $3.76 billion, a PE ratio of -5.25 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. Equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ACHR. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reissued a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after buying an additional 312,440 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock valued at $22,206,000 after buying an additional 446,864 shares during the last quarter. Private Advisor Group LLC raised its position in Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after acquiring an additional 36,840 shares during the period. ARK Investment Management LLC boosted its stake in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after acquiring an additional 6,371,647 shares during the last quarter. Finally, Yarbrough Capital LLC bought a new stake in shares of Archer Aviation during the 4th quarter valued at $6,039,000. 59.34% of the stock is currently owned by institutional investors.

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.