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

by · The Cerbat Gem

Archer Aviation Inc. (NYSE:ACHR – Get Free Report) CFO Mark Mesler sold 34,498 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the completion of the transaction, the chief financial officer now directly owns 659,357 shares in the company, valued at $4,641,873.28. This represents a 4.97 % decrease in their position. The sale was disclosed in a 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 stock was sold at an average price of $7.70, for a total transaction of $479,386.60.

Archer Aviation Stock Up 3.6 %

Shares of Archer Aviation stock opened at $7.21 on Thursday. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -5.46 and a beta of 3.14. The stock has a 50-day simple moving average of $8.61 and a 200-day simple moving average of $6.95. 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 – Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in Archer Aviation during the third quarter valued at about $206,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after purchasing an additional 3,033 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings in Archer Aviation by 99.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock worth $292,000 after purchasing an additional 47,975 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Archer Aviation by 15.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock worth $186,000 after purchasing an additional 8,431 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upped their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Raymond James upped their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.61.

View Our Latest Stock Report on ACHR

Archer Aviation Company Profile

(Get Free Report)

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.

Recommended Stories