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

Archer Aviation Inc. (NYSE:ACHR) CFO Priya Gupta sold 9,860 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $58,667.00. Following the sale, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction 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 transaction of $65,711.12.

Archer Aviation Price Performance

ACHR traded down $0.01 during trading on Tuesday, reaching $5.92. 49,532,138 shares of the company traded hands, compared to its average volume of 39,406,728. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. Archer Aviation Inc. has a 12-month low of $4.80 and a 12-month high of $14.62. The firm has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $7.21. The company has a market cap of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts forecast that Archer Aviation Inc. will post -1.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on ACHR. Needham & Company LLC lowered their target price 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. Canaccord Genuity Group lowered their target price 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, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of ACHR. AQR Capital Management LLC bought a new stake in Archer Aviation in the first quarter worth $293,000. Integrated Wealth Concepts LLC lifted its position in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Archer Aviation by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC lifted its position in Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after buying an additional 285,414 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.