Archer Aviation Inc. (NYSE:ACHR) Insider Tosha Perkins Sells 33,335 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the sale, the insider now owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Tuesday, March 4th, Tosha Perkins sold 49,273 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total transaction of $379,402.10.

Archer Aviation Trading Up 3.6 %

ACHR opened at $7.21 on Thursday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of -5.46 and a beta of 3.14. The company has a 50-day simple moving average of $8.61 and a 200 day simple moving average of $6.95.

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

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Wellington Management Group LLP bought a new position in shares of Archer Aviation in the 4th quarter valued at $15,912,000. California State Teachers Retirement System grew its position in Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock valued at $2,354,000 after acquiring an additional 50,104 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in Archer Aviation in the fourth quarter valued at about $450,000. Infinitum Asset Management LLC acquired a new position in Archer Aviation during the fourth quarter worth about $10,844,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Archer Aviation in the fourth quarter worth about $27,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of research analyst reports. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group increased their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Finally, Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.