Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells $68,650.23 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 10,949 shares of the stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the sale, the insider owned 384,768 shares in the company, valued at $2,412,495.36. The trade was a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tosha Perkins also recently made the following trade(s):

• On Thursday, March 5th, Tosha Perkins sold 54,786 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total transaction of $353,917.56.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $6.03 on Thursday. The firm has a 50 day moving average of $7.36 and a 200-day moving average of $8.57. Archer Aviation Inc. has a 12 month low of $5.48 and a 12 month high of $14.62. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.92 billion, a PE ratio of -6.09 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Analysts Set New Price Targets

ACHR has been the topic of several recent analyst reports. Needham & Company LLC decreased their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Canaccord Genuity Group raised their price objective on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Bank of Jackson Hole Trust lifted its stake in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC increased its holdings in Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after purchasing an additional 1,107 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Archer Aviation by 7.0% in the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after purchasing an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its position in Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after purchasing an additional 1,254 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.