Priya Gupta Sells 13,210 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Priya Gupta sold 13,210 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the completion of the transaction, the chief financial officer now owns 134,104 shares of the company’s stock, valued at $1,742,010.96. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Archer Aviation Stock Performance

NYSE:ACHR opened at $13.27 on Friday. The firm’s 50-day moving average is $8.16 and its 200-day moving average is $8.14. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $13.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market cap of $7.20 billion, a price-to-earnings ratio of -10.05 and a beta of 3.13.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its stake in Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock valued at $25,000 after acquiring an additional 1,664 shares during the period. Sunbelt Securities Inc. bought a new stake in Archer Aviation during the fourth quarter worth about $27,000. Tidemark LLC grew its stake in shares of Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares during the last quarter. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $29,000. Finally, Harbour Investments Inc. grew its stake in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACHR. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Archer Aviation in a report on Friday. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

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.