Archer Aviation Inc. (NYSE:ACHR) Insider Tosha Perkins Sells 49,273 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares in the company, valued at $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded up $0.10 during trading on Tuesday, hitting $7.98. 29,942,203 shares of the company were exchanged, compared to its average volume of 33,566,488. The company has a market cap of $3.39 billion, a PE ratio of -6.04 and a beta of 3.13. The stock has a 50 day moving average of $9.56 and a 200 day moving average of $6.31. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ACHR. Creative Planning increased its holdings in shares of Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after purchasing an additional 12,278 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares during the period. Vestor Capital LLC bought a new position in shares of Archer Aviation in the third quarter worth $61,000. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation in the third quarter worth $26,000. Finally, Intellectus Partners LLC increased its stake in Archer Aviation by 1.3% in the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock valued at $2,790,000 after acquiring an additional 11,800 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.