Mark Mesler Sells 62,258 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CFO Mark Mesler sold 62,258 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the sale, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This represents a 8.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Archer Aviation Trading Up 1.8 %

Shares of NYSE ACHR opened at $8.13 on Thursday. The firm has a 50 day moving average price of $9.50 and a two-hundred day moving average price of $6.34. The stock has a market cap of $3.46 billion, a P/E ratio of -6.16 and a beta of 3.13. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the third quarter worth approximately $26,000. Sunbelt Securities Inc. bought a new position in Archer Aviation during the 4th quarter worth approximately $27,000. Conquis Financial LLC acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $29,000. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. increased its position in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. 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. Finally, JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.61.

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.