Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Brett Adcock Sells 200,000 Shares

Archer Aviation Inc. (NYSE:ACHRGet Rating) major shareholder Brett Adcock sold 200,000 shares of the business’s stock in a transaction dated Friday, January 13th. The stock was sold at an average price of $2.60, for a total transaction of $520,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Brett Adcock also recently made the following trade(s):

  • On Wednesday, January 11th, Brett Adcock sold 200,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.37, for a total transaction of $474,000.00.
  • On Monday, January 9th, Brett Adcock sold 150,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.35, for a total transaction of $352,500.00.
  • On Friday, January 6th, Brett Adcock sold 180,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.20, for a total transaction of $396,000.00.
  • On Wednesday, January 4th, Brett Adcock sold 130,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.13, for a total transaction of $276,900.00.
  • On Monday, December 5th, Brett Adcock sold 49,584 shares of Archer Aviation stock. The stock was sold at an average price of $2.41, for a total transaction of $119,497.44.
  • On Friday, December 2nd, Brett Adcock sold 120,000 shares of Archer Aviation stock. The stock was sold at an average price of $2.51, for a total transaction of $301,200.00.
  • On Wednesday, November 30th, Brett Adcock sold 120,000 shares of Archer Aviation stock. The stock was sold at an average price of $2.32, for a total transaction of $278,400.00.
  • On Monday, November 28th, Brett Adcock sold 4,096 shares of Archer Aviation stock. The stock was sold at an average price of $2.40, for a total transaction of $9,830.40.
  • On Tuesday, November 22nd, Brett Adcock sold 100,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.41, for a total transaction of $241,000.00.
  • On Tuesday, November 1st, Brett Adcock sold 62,301 shares of Archer Aviation stock. The shares were sold at an average price of $2.79, for a total transaction of $173,819.79.

Archer Aviation Stock Performance

Shares of ACHR opened at $2.58 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.05 and a quick ratio of 14.05. The firm has a 50 day moving average of $2.27 and a 200 day moving average of $2.93. Archer Aviation Inc. has a twelve month low of $1.62 and a twelve month high of $5.24.

Archer Aviation (NYSE:ACHRGet Rating) last posted its earnings results on Thursday, November 10th. The company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. Analysts predict that Archer Aviation Inc. will post -1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ACHR. Barclays dropped their price target on shares of Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating for the company in a research report on Tuesday, November 15th. JPMorgan Chase & Co. lowered their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Tuesday, October 18th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $8.10.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the stock. Nikko Asset Management Americas Inc. lifted its stake in Archer Aviation by 1.0% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 5,270,793 shares of the company’s stock worth $16,181,000 after purchasing an additional 50,040 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Archer Aviation during the 2nd quarter valued at about $16,234,000. BG Investment Services Inc. purchased a new stake in shares of Archer Aviation during the 2nd quarter valued at about $46,000. Capital Wealth Alliance LLC raised its position in shares of Archer Aviation by 546.3% during the 2nd quarter. Capital Wealth Alliance LLC now owns 67,000 shares of the company’s stock valued at $66,000 after buying an additional 56,633 shares in the last quarter. Finally, BBR Partners LLC bought a new position in Archer Aviation during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 41.51% of the company’s stock.

About Archer Aviation

(Get Rating)

Archer Aviation Inc, an urban air mobility company, engages in designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc Archer Aviation Inc was incorporated in 2018 and is headquartered in Palo Alto, California.

Further Reading

Insider Buying and Selling by Quarter for Archer Aviation (NYSE:ACHR)

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