Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CFO Sells 34,498 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 34,498 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares in the company, valued at approximately $4,641,873.28. The trade was a 4.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, March 4th, Mark Mesler sold 62,258 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total value of $479,386.60.

Archer Aviation Stock Down 2.2 %

NYSE ACHR traded down $0.16 during trading hours on Tuesday, hitting $6.96. The company’s stock had a trading volume of 20,537,891 shares, compared to its average volume of 19,553,241. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company’s 50-day simple moving average is $8.67 and its two-hundred day simple moving average is $6.94. The company has a market capitalization of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its earnings results 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. Research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation in the 4th quarter worth $27,000. Conquis Financial LLC purchased a new position in Archer Aviation during the fourth quarter worth about $29,000. Harbour Investments Inc. grew its position in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares in the last quarter. Oarsman Capital Inc. increased its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after buying an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its position in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 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 research analyst reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Raymond James increased their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a 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. Based on data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.