Insider Selling: Archer Aviation Inc. (NYSE:ACHR) Director Sells 191,513 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) Director Michael Spellacy sold 191,513 shares of Archer Aviation stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total value of $1,915,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Michael Spellacy also recently made the following trade(s):

• On Thursday, December 12th, Michael Spellacy sold 63,000 shares of Archer Aviation stock. The shares were sold at an average price of $7.10, for a total value of $447,300.00.

Archer Aviation Stock Performance

Shares of ACHR stock opened at $9.49 on Friday. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $10.58. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19. The company has a 50-day simple moving average of $5.48 and a 200 day simple moving average of $4.30. 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 issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the business posted ($0.19) EPS. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Institutional Trading of Archer Aviation

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

Wall Street Analyst Weigh In

ACHR has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. Canaccord Genuity Group upped their target price on shares of Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $10.63.

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.