Archer Aviation Inc. (NYSE:ACHR) CFO Sells $242,865.92 in Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 34,498 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $242,865.92. Following the sale, the chief financial officer now directly owns 659,357 shares in the company, valued at approximately $4,641,873.28. This represents a 4.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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 Price Performance

Shares of ACHR opened at $6.96 on Wednesday. The firm has a 50-day simple moving average of $8.67 and a two-hundred day simple moving average of $6.94. 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 Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The stock has a market cap of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ACHR. Needham & Company LLC raised their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

Institutional Trading of Archer Aviation

A number of large investors have recently modified their holdings of ACHR. ARK Investment Management LLC grew its position in shares of Archer Aviation by 27.1% during the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after buying an additional 2,908,859 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Archer Aviation by 14.2% during the fourth quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after purchasing an additional 724,736 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of Archer Aviation in the 4th quarter valued at $42,709,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.