Insider Buying: Archer Aviation Inc. (NYSE:ACHR) CEO Acquires 19,762 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein purchased 19,762 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average cost of $5.12 per share, for a total transaction of $101,181.44. Following the purchase, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Archer Aviation Trading Up 4.5 %

Archer Aviation stock opened at $6.04 on Friday. The stock has a 50-day moving average price of $3.48 and a 200 day moving average price of $3.66. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $7.01. The stock has a market cap of $2.57 billion, a PE ratio of -4.58 and a beta of 2.29. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results 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 firm posted ($0.19) EPS. Equities research analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Axxcess Wealth Management LLC lifted its stake 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 acquired a new position in Archer Aviation in the first quarter valued at $117,000. Cetera Advisors LLC purchased a new position in Archer Aviation during the first quarter worth about $80,000. CWM LLC boosted its stake 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 buying an additional 3,559 shares during the last quarter. Finally, Blair William & Co. IL purchased a new stake in Archer Aviation in the 1st quarter valued at about $266,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on ACHR shares. Benchmark reiterated a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC assumed 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 on the stock. 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 started coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target on the stock. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $9.33.

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.