Archer Aviation (NYSE:ACHR) Insider Tosha Perkins Sells 45,018 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 45,018 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Archer Aviation Stock Up 2.2%

Shares of NYSE:ACHR opened at $7.59 on Wednesday. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $10.23 and a two-hundred day simple moving average of $10.23. Archer Aviation Inc. has a 12-month low of $4.33 and a 12-month high of $14.62. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -6.02 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ACHR. JPMorgan Chase & Co. decreased their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Cantor Fitzgerald set a $13.00 price target on shares of Archer Aviation in a research report on Monday, November 10th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Needham & Company LLC lowered their price objective on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Finally, Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter worth approximately $27,000. Tidemark LLC lifted its holdings in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after buying an additional 2,000 shares during the period. AlphaQuest LLC boosted its stake in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation in the 3rd quarter worth $29,000. Finally, Bank of Jackson Hole Trust grew its holdings in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.