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 firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was 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 stock was sold at an average price of $6.46, for a total value of $65,711.12.

Archer Aviation Trading Down 0.1%

ACHR traded down $0.01 during trading on Tuesday, reaching $5.92. The company had a trading volume of 49,532,138 shares, compared to its average volume of 39,406,728. The stock has a market cap of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13. The business has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $7.21. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share 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 analyst estimates of $1.66 million. During the same quarter last year, the firm posted ($0.17) EPS. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on ACHR shares. Needham & Company LLC reduced their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. 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 stock currently has an average rating of “Moderate Buy” and an average target price of $11.83.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after buying an additional 2,312,899 shares during the period. ARK Investment Management LLC increased its stake in shares of 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 buying an additional 3,869,252 shares during the period. State Street Corp increased its stake in shares of Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock valued at $246,454,000 after buying an additional 3,293,130 shares during the period. Morgan Stanley increased its stake in shares of Archer Aviation by 21.6% during the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock valued at $118,196,000 after buying an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Archer Aviation by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after buying an additional 1,867,648 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

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.