Archer Aviation Inc. (NYSE:ACHR) CFO Sells $479,386.60 in Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 62,258 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares of the company’s stock, valued at approximately $4,852,871.10. The trade was a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Archer Aviation Trading Up 1.8 %

ACHR opened at $8.13 on Thursday. The firm has a market capitalization of $3.46 billion, a PE ratio of -6.16 and a beta of 3.13. 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 Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $12.48. The company’s 50-day moving average is $9.50 and its 200 day moving average is $6.34.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth $26,000. Sunbelt Securities Inc. purchased a new position in Archer Aviation during the fourth quarter worth about $27,000. Conquis Financial LLC bought a new stake in Archer Aviation in the 4th quarter worth about $29,000. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. lifted its position in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ACHR has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Needham & Company LLC raised their price target 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. Cantor Fitzgerald upped their price objective 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. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Raymond James boosted their target price 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.