Mark Mesler Sells 50,775 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 50,775 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $659,567.25. Following the completion of the sale, the chief financial officer now owns 711,525 shares of the company’s stock, valued at approximately $9,242,709.75. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, March 31st, Mark Mesler sold 34,498 shares of Archer Aviation stock. The shares were sold at an average price of $7.04, for a total transaction of $242,865.92.
• 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 Up 8.9%

Shares of Archer Aviation stock opened at $13.27 on Friday. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $13.92. The company has a market capitalization of $7.20 billion, a PE ratio of -10.05 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. The business has a 50-day moving average of $8.16 and a 200-day moving average of $8.14.

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

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 180 Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth about $105,000. Hennion & Walsh Asset Management Inc. increased its holdings in Archer Aviation by 25.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 55,750 shares of the company’s stock valued at $544,000 after buying an additional 11,317 shares during the last quarter. Yarbrough Capital LLC acquired a new stake in Archer Aviation during the fourth quarter valued at approximately $6,039,000. Avanza Fonder AB bought a new position in Archer Aviation during the 4th quarter worth approximately $674,000. Finally, Sara Bay Financial acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $104,000. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ACHR. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Archer Aviation in a report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Friday. Finally, Canaccord Genuity Group raised 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. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $12.50.

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.