Insider Selling: Archer Aviation (NYSE:ACHR) CFO Sells 7,263 Shares of Stock

by · The Markets Daily

Archer Aviation Inc. (NYSE:ACHR – Get Free Report) CFO Priya Gupta sold 7,263 shares of Archer Aviation stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $45,539.01. Following the transaction, the chief financial officer directly owned 178,512 shares of the company’s stock, valued at approximately $1,119,270.24. This trade represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Priya Gupta also recently made the following trade(s):

  • On Thursday, March 5th, Priya Gupta sold 10,172 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total transaction of $65,711.12.

Archer Aviation Price Performance

Shares of NYSE ACHR traded up $0.10 during mid-day trading on Monday, reaching $6.13. 34,232,629 shares of the company were exchanged, compared to its average volume of 29,777,946. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The company’s 50-day simple moving average is $7.46 and its 200-day simple moving average is $8.61. Archer Aviation Inc. has a twelve month low of $5.48 and a twelve month high of $14.62.

Archer Aviation (NYSE:ACHR – Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Trading of Archer Aviation

Several large investors have recently made changes to their positions in the company. Fund Advisors of America Inc FL acquired a new position in Archer Aviation during the fourth quarter valued at approximately $178,000. World Investment Advisors boosted its holdings in shares of Archer Aviation by 37.7% in the 4th quarter. World Investment Advisors now owns 19,400 shares of the company’s stock valued at $146,000 after purchasing an additional 5,309 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Archer Aviation by 20.9% in the 4th quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock valued at $327,000 after purchasing an additional 7,515 shares during the last quarter. EMC Capital Management increased its stake in shares of Archer Aviation by 22.5% in the 4th quarter. EMC Capital Management now owns 13,600 shares of the company’s stock valued at $102,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Tulsa Wealth Advisors INC acquired a new position in shares of Archer Aviation during the 4th quarter worth $100,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ACHR. The Goldman Sachs Group started coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Needham & Company LLC reduced their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Read Our Latest Report on ACHR

About Archer Aviation

(Get Free Report)

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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