Archer Aviation (NYSE:ACHR) CFO Priya Gupta Sells 9,860 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Priya Gupta sold 9,860 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. The trade was a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Priya Gupta also recently made the following trade(s):

• On Friday, March 13th, Priya Gupta sold 7,263 shares of Archer Aviation stock. The shares were sold at an average price of $6.27, for a total value of $45,539.01.
• On Thursday, March 5th, Priya Gupta sold 10,172 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total value of $65,711.12.

Archer Aviation Stock Down 0.1%

NYSE:ACHR opened at $5.92 on Wednesday. Archer Aviation Inc. has a 1 year low of $4.80 and a 1 year high of $14.62. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. The stock has a 50-day moving average price of $5.87 and a two-hundred day moving average price of $7.21.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period last year, the firm posted ($0.17) earnings per share. As a group, equities analysts expect that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACHR. Vanguard Group Inc. boosted its position in shares of Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after buying an additional 16,452,398 shares during the period. Norges Bank bought a new stake in Archer Aviation during the fourth quarter worth about $58,494,000. Man Group plc boosted its position in Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after purchasing an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after purchasing an additional 4,146,574 shares during the last quarter. Finally, ARK Investment Management LLC boosted its position in Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Canaccord Genuity Group reduced their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, Needham & Company LLC reduced their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.83.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.