Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein Purchases 19,762 Shares

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein acquired 19,762 shares of Archer Aviation stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Archer Aviation Price Performance

ACHR stock traded up $0.23 on Friday, reaching $6.01. 25,413,904 shares of the company’s stock were exchanged, compared to its average volume of 8,998,764. The firm has a market cap of $2.56 billion, a PE ratio of -4.52 and a beta of 2.29. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a fifty day moving average of $3.37 and a 200-day moving average of $3.63. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $7.01.

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

Analyst Upgrades and Downgrades

ACHR has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research note on Tuesday. They set a “buy” rating and a $11.00 target price 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 target on the stock. Finally, Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings in shares of Archer Aviation by 266.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock valued at $191,000 after buying an additional 30,075 shares during the period. Swiss National Bank lifted its holdings in Archer Aviation by 2.3% in the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after buying an additional 8,500 shares in the last quarter. Blair William & Co. IL purchased a new position in Archer Aviation in the 1st quarter valued at about $266,000. CreativeOne Wealth LLC purchased a new stake in shares of Archer Aviation during the first quarter worth about $117,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of Archer Aviation by 48.0% in the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock worth $138,000 after acquiring an additional 9,713 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other 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.