Archer Aviation Inc. (NYSE:ACHR - Get Free Report) Director Michael Spellacy sold 191,513 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total transaction of $1,915,130.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Michael Spellacy also recently made the following trade(s):
- On Thursday, December 12th, Michael Spellacy sold 63,000 shares of Archer Aviation stock. The stock was sold at an average price of $7.10, for a total transaction of $447,300.00.
Archer Aviation Trading Up 12.7 %
Shares of Archer Aviation stock traded up $1.07 during midday trading on Friday, reaching $9.49. The company had a trading volume of 70,005,078 shares, compared to its average volume of 12,808,807. The stock has a fifty day moving average price of $5.35 and a 200 day moving average price of $4.25. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $10.58. The firm has a market cap of $4.04 billion, a PE ratio of -7.19 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the business posted ($0.19) EPS. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.
Institutional Trading of Archer Aviation
A number of institutional investors have recently bought and sold shares of ACHR. Hollencrest Capital Management boosted its holdings in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after acquiring an additional 3,033 shares during the period. Tidal Investments LLC boosted its stake in Archer Aviation by 29.9% during the third quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after acquiring an additional 3,339 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company's stock worth $89,000 after purchasing an additional 3,341 shares during the period. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company's stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Institutional investors own 59.34% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently commented on ACHR. HC Wainwright reissued a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a report on Friday, December 13th. Finally, Needham & Company LLC started coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $10.63.
Check Out Our Latest Research Report on ACHR
About Archer Aviation
(
Get Free Report)
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.
Further Reading
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