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

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 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 $234,678.40. Following the sale, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 value of $379,402.10.

Archer Aviation Stock Down 2.2 %

Shares of NYSE:ACHR opened at $6.96 on Wednesday. The stock’s 50-day moving average is $8.67 and its 200 day moving average is $6.94. The company has a market cap of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14. 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.

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

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. ARK Investment Management LLC raised its stake in Archer Aviation by 27.1% in 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. Renaissance Technologies LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth approximately $42,709,000. Alyeska Investment Group L.P. grew its holdings in shares of Archer Aviation by 158.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after acquiring an additional 3,064,280 shares during the period. Two Sigma Investments LP raised its position in shares of Archer Aviation by 3,166.8% in the 4th quarter. Two Sigma Investments LP now owns 3,012,983 shares of the company’s stock worth $29,377,000 after acquiring an additional 2,920,752 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 purchasing an additional 2,908,859 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ACHR. Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Needham & Company LLC boosted their target price on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

About Archer Aviation

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.