Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CFO Sells 34,498 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Mark Mesler sold 34,498 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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 value of $479,386.60.

Archer Aviation Stock Performance

Shares of ACHR traded down $0.75 during mid-day trading on Friday, reaching $6.20. 32,977,683 shares of the company's stock traded hands, compared to its average volume of 19,805,715. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business's 50-day moving average price is $8.48 and its 200-day moving average price is $6.97. The stock has a market capitalization of $3.36 billion, a P/E ratio of -4.69 and a beta of 3.14. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48.

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, beating the consensus estimate of ($0.40) by $0.10. Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

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Institutional Inflows and Outflows

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

Analysts Set New Price Targets

ACHR has been the topic of several research analyst reports. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. 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. Needham & Company LLC raised their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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.