Tosha Perkins Sells 33,335 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) insider Tosha Perkins sold 33,335 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the sale, the insider now owns 262,673 shares in the company, valued at $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tosha Perkins also recently made the following trade(s):

• On Tuesday, March 4th, Tosha Perkins sold 49,273 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10.

Archer Aviation Stock Performance

Shares of NYSE ACHR opened at $7.21 on Thursday. The stock has a market capitalization of $3.91 billion, a PE ratio of -5.46 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The stock has a 50 day moving average price of $8.61 and a 200 day moving average price of $6.95. 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 released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. Analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Large investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its stake in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Vanguard Group Inc. lifted its stake in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock valued at $160,682,000 after purchasing an additional 2,908,859 shares during the last quarter. Geode Capital Management LLC grew its holdings in Archer Aviation by 14.2% during the fourth quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after purchasing an additional 724,736 shares during the period. Alyeska Investment Group L.P. increased its position in Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Archer Aviation in the fourth quarter valued at approximately $42,709,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

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.