Insider Selling: Archer Aviation Inc. (NYSE:ACHR) CEO Sells 805,170 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Archer Aviation Stock Performance

Shares of ACHR opened at $6.04 on Friday. The company has a market capitalization of $2.57 billion, a PE ratio of -4.55 and a beta of 2.29. 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 one year low of $2.82 and a one year high of $7.01. The company’s fifty day moving average price is $3.42 and its 200 day moving average price is $3.65.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the company posted ($0.19) earnings per share. As a group, analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on ACHR shares. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday. They issued a “buy” rating and a $11.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Finally, HC Wainwright assumed coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and an average price target of $9.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation in the third quarter worth $26,000. Code Waechter LLC bought a new stake in Archer Aviation in the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new stake in Archer Aviation in the 3rd quarter worth $31,000. Hollencrest Capital Management increased its holdings in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the period. Finally, CWM LLC increased its holdings in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. 59.34% of the stock is owned by institutional investors.

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.