Mark Mesler Sells 34,498 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 34,498 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $242,865.92. Following the sale, the chief financial officer now owns 659,357 shares of the company’s stock, valued at $4,641,873.28. The trade was a 4.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mark Mesler also recently made the following trade(s):

• On Tuesday, March 4th, Mark Mesler sold 62,258 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $479,386.60.

Archer Aviation Trading Down 2.2 %

Shares of ACHR stock traded down $0.16 during trading hours on Tuesday, hitting $6.96. 20,537,891 shares of the company’s stock traded hands, compared to its average volume of 19,553,241. 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 $12.48. The stock has a market cap of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14. The stock’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $6.94.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP bought a new stake in Archer Aviation in the fourth quarter valued at approximately $15,912,000. California State Teachers Retirement System lifted its position in shares of Archer Aviation by 26.2% in the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock worth $2,354,000 after purchasing an additional 50,104 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $450,000. Infinitum Asset Management LLC bought a new stake in shares of Archer Aviation in the 4th quarter valued at $10,844,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of recent analyst reports. Raymond James lifted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC increased their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.