Archer Aviation Inc. (NYSE:ACHR – Get Free Report) insider Andy Missan sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $6.39, for a total value of $79,875.00. Following the sale, the insider now owns 281,562 shares of the company’s stock, valued at approximately $1,799,181.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Archer Aviation Stock Up 1.0 %
NYSE ACHR opened at $6.32 on Monday. The firm has a market cap of $1.90 billion, a PE ratio of -3.57 and a beta of 2.54. Archer Aviation Inc. has a one year low of $1.62 and a one year high of $7.49. The stock’s 50 day simple moving average is $5.35 and its 200 day simple moving average is $4.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.07 and a quick ratio of 2.68.
Wall Street Analyst Weigh In
ACHR has been the topic of several recent research reports. Raymond James raised their price target on Archer Aviation from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Tuesday, August 22nd. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on Archer Aviation from $6.00 to $8.00 and gave the stock an “overweight” rating in a report on Friday, August 11th.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. ARK Investment Management LLC increased its position in shares of Archer Aviation by 159.6% in the 3rd quarter. ARK Investment Management LLC now owns 23,790,372 shares of the company’s stock valued at $120,379,000 after buying an additional 14,625,655 shares in the last quarter. State Street Corp grew its holdings in shares of Archer Aviation by 1,667.7% in the 2nd quarter. State Street Corp now owns 6,964,137 shares of the company’s stock valued at $21,450,000 after acquiring an additional 6,570,169 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Archer Aviation by 54.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,754,499 shares of the company’s stock valued at $59,478,000 after purchasing an additional 4,154,340 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in Archer Aviation by 40.5% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,141,005 shares of the company’s stock valued at $19,995,000 after purchasing an additional 2,057,901 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Archer Aviation by 31.9% in the 1st quarter. Invesco Ltd. now owns 4,464,734 shares of the company’s stock valued at $21,475,000 after purchasing an additional 1,079,978 shares during the last quarter. Institutional investors and hedge funds own 45.07% of the company’s stock.
Archer Aviation Company Profile
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 San Jose, California.
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