Insider Selling: Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Sells 76,956 Shares of Stock

Archer Aviation Inc. (NYSE:ACHRGet Rating) major shareholder Brett Adcock sold 76,956 shares of the firm’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $3.03, for a total transaction of $233,176.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Brett Adcock also recently made the following trade(s):

  • On Monday, September 19th, Brett Adcock sold 140,000 shares of Archer Aviation stock. The stock was sold at an average price of $3.00, for a total transaction of $420,000.00.
  • On Wednesday, September 14th, Brett Adcock sold 100,000 shares of Archer Aviation stock. The stock was sold at an average price of $3.15, for a total transaction of $315,000.00.
  • On Friday, September 9th, Brett Adcock sold 100,000 shares of Archer Aviation stock. The stock was sold at an average price of $3.50, for a total transaction of $350,000.00.
  • On Wednesday, August 3rd, Brett Adcock sold 100,000 shares of Archer Aviation stock. The stock was sold at an average price of $4.39, for a total transaction of $439,000.00.
  • On Thursday, July 28th, Brett Adcock sold 47,090 shares of Archer Aviation stock. The stock was sold at an average price of $3.92, for a total transaction of $184,592.80.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded down $0.09 during midday trading on Friday, hitting $2.80. The company had a trading volume of 2,222,569 shares, compared to its average volume of 2,193,389. The company has a quick ratio of 15.31, a current ratio of 15.31 and a debt-to-equity ratio of 0.02. The business has a 50-day simple moving average of $3.69 and a two-hundred day simple moving average of $3.86. Archer Aviation Inc. has a twelve month low of $2.61 and a twelve month high of $9.43.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Archer Aviation by 1,667.7% during the 2nd quarter. State Street Corp now owns 6,964,137 shares of the company’s stock valued at $21,450,000 after acquiring an additional 6,570,169 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Archer Aviation during the 2nd quarter valued at about $16,234,000. Nikko Asset Management Americas Inc. increased its holdings in Archer Aviation by 1.0% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 5,270,793 shares of the company’s stock valued at $16,181,000 after acquiring an additional 50,040 shares in the last quarter. Invesco Ltd. increased its holdings in Archer Aviation by 31.9% during the 1st quarter. Invesco Ltd. now owns 4,464,734 shares of the company’s stock valued at $21,475,000 after acquiring an additional 1,079,978 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Archer Aviation by 6.1% during the 1st quarter. BlackRock Inc. now owns 1,642,200 shares of the company’s stock valued at $7,899,000 after acquiring an additional 94,992 shares in the last quarter. 58.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACHR. Barclays reduced their price objective on shares of Archer Aviation from $5.50 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Raymond James began coverage on shares of Archer Aviation in a research note on Wednesday, July 27th. They issued an “outperform” rating and a $8.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Archer Aviation from $10.00 to $12.00 in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.50.

About Archer Aviation

(Get Rating)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.

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Insider Buying and Selling by Quarter for Archer Aviation (NYSE:ACHR)

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