Archer Aviation (NYSE:ACHR) Trading Down 0.8% on Insider Selling

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded down 0.8% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $6.73 and last traded at $7.06. 7,620,786 shares were traded during trading, a decline of 61% from the average session volume of 19,443,774 shares. The stock had previously closed at $7.11.

Specifically, General Counsel Eric Lentell sold 50,004 shares of the firm's 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 $352,028.16. Following the sale, the general counsel now owns 45,416 shares of the company's stock, valued at $319,728.64. This trade represents a 52.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Thomas Paul Muniz sold 52,958 shares of the company's 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 $372,824.32. Following the transaction, the chief technology officer now owns 1,173,905 shares of the company's stock, valued at approximately $8,264,291.20. This trade represents a 4.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CFO Mark Mesler sold 34,498 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares in the company, valued at approximately $4,641,873.28. This trade represents a 4.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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Analyst Ratings Changes

A number of analysts have weighed in on ACHR shares. Cantor Fitzgerald increased their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.61.

Archer Aviation Trading Down 3.8 %

The company has a 50 day moving average of $8.56 and a 200 day moving average of $6.95. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -5.25 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the 4th quarter valued at $29,000. Oarsman Capital Inc. boosted its stake in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after purchasing an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its holdings 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 purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its holdings 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 worth $32,000 after purchasing an additional 1,224 shares during the last quarter. 59.34% of the stock is 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.