Insider Selling: Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Sells 100,000 Shares of Stock

Archer Aviation Inc. (NYSE:ACHRGet Rating) major shareholder Brett Adcock sold 100,000 shares of Archer Aviation stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $4.39, for a total transaction of $439,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Brett Adcock also recently made the following trade(s):

  • On Thursday, July 28th, Brett Adcock sold 47,090 shares of Archer Aviation stock. The shares were sold at an average price of $3.92, for a total transaction of $184,592.80.

Archer Aviation Price Performance

Shares of ACHR stock traded down $0.17 on Friday, hitting $4.38. The company’s stock had a trading volume of 1,117,140 shares, compared to its average volume of 2,265,771. The company has a current ratio of 20.90, a quick ratio of 20.90 and a debt-to-equity ratio of 0.02. The stock’s 50 day moving average is $3.79 and its 200-day moving average is $3.72. Archer Aviation Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $10.53.

Archer Aviation (NYSE:ACHRGet Rating) last posted its earnings results on Thursday, May 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of ACHR. Greycroft LP purchased a new stake in Archer Aviation in the 4th quarter worth about $37,853,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Archer Aviation in the 2nd quarter worth approximately $16,234,000. Nikko Asset Management Americas Inc. lifted its position in Archer Aviation by 1.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 5,270,793 shares of the company’s stock worth $16,181,000 after buying an additional 50,040 shares during the last quarter. Invesco Ltd. lifted its position in Archer Aviation by 31.9% in the first quarter. Invesco Ltd. now owns 4,464,734 shares of the company’s stock valued at $21,475,000 after purchasing an additional 1,079,978 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Archer Aviation by 6.1% in the first quarter. BlackRock Inc. now owns 1,642,200 shares of the company’s stock valued at $7,899,000 after purchasing an additional 94,992 shares during the last quarter. 37.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JPMorgan Chase & Co. initiated coverage on shares of Archer Aviation in a research note on Thursday, April 28th. They set an “overweight” rating and a $7.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Archer Aviation in a research report on Monday, April 11th. They issued a “buy” rating and a $10.00 target price for the company. Raymond James started coverage on shares of Archer Aviation in a research report on Wednesday, July 27th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Benchmark dropped their price target on shares of Archer Aviation to $12.00 and set a “na” rating on the stock in a research note on Thursday, May 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.42.

Archer Aviation Company Profile

(Get Rating)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.

Further Reading

Insider Buying and Selling by Quarter for Archer Aviation (NYSE:ACHR)

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