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 the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $10.00, for a total transaction of $1,915,130.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

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

Archer Aviation Stock Performance

ACHR stock opened at $9.49 on Monday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $10.58. The firm has a 50 day moving average of $5.48 and a two-hundred day moving average of $4.30. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -7.19 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the business earned ($0.19) earnings per share. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group raised their target price on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.63.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth about $26,000. Code Waechter LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management boosted its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. Finally, CWM LLC lifted its position in 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 buying an additional 3,559 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.