Archer Aviation Inc. (NYSE:ACHR) CEO Buys $101,181.44 in Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein acquired 19,762 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, with a total value of $101,181.44. Following the transaction, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. This represents a 0.99 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Archer Aviation Price Performance

ACHR stock traded up $0.73 during trading on Thursday, hitting $5.79. The stock had a trading volume of 39,679,805 shares, compared to its average volume of 8,925,229. The company’s 50 day moving average price is $3.37 and its two-hundred day moving average price is $3.63. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.01. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -4.39 and a beta of 2.29. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACHR. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright initiated coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Axxcess Wealth Management LLC grew its holdings in shares of Archer Aviation by 48.0% during the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after purchasing an additional 9,713 shares during the period. CreativeOne Wealth LLC purchased a new position in Archer Aviation in the 1st quarter worth approximately $117,000. Cetera Advisors LLC purchased a new position in Archer Aviation in the 1st quarter worth approximately $80,000. CWM LLC boosted its holdings in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the period. Finally, Blair William & Co. IL purchased a new position in Archer Aviation in the 1st quarter worth approximately $266,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.