Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Sells $373,610.94 in Stock

Archer Aviation Inc. (NYSE:ACHR – Get Rating) major shareholder Brett Adcock sold 132,018 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $2.83, for a total value of $373,610.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% 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 Thursday, January 19th, Brett Adcock sold 38,773 shares of Archer Aviation stock. The stock was sold at an average price of $2.86, for a total transaction of $110,890.78.
• On Tuesday, January 17th, Brett Adcock sold 200,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.57, for a total value of $514,000.00.
• On Friday, January 13th, Brett Adcock sold 200,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.60, for a total transaction of $520,000.00.
• On Wednesday, January 11th, Brett Adcock sold 200,000 shares of Archer Aviation stock. The stock was 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 stock was 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 stock was 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 shares were 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 shares were 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.

Archer Aviation Price Performance

Archer Aviation stock traded up $0.02 during midday trading on Wednesday, hitting $2.57. 1,572,796 shares of the company’s stock were exchanged, compared to its average volume of 2,487,844. The firm’s 50 day simple moving average is $2.27 and its 200 day simple moving average is $2.92. Archer Aviation Inc. has a 12-month low of $1.62 and a 12-month high of $5.24. The company has a current ratio of 14.05, a quick ratio of 14.05 and a debt-to-equity ratio of 0.02.

Archer Aviation (NYSE:ACHR – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.03. Equities research analysts forecast that Archer Aviation Inc. will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently modified their holdings of the company. DNB Asset Management AS raised its position in shares of Archer Aviation by 99.5% during the 4th quarter. DNB Asset Management AS now owns 472,483 shares of the company’s stock valued at $884,000 after acquiring an additional 235,695 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Archer Aviation by 22.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 555,370 shares of the company’s stock valued at $1,449,000 after purchasing an additional 103,591 shares during the period. BNP Paribas Arbitrage SNC acquired a new stake in Archer Aviation during the 3rd quarter worth about $642,000. Alliancebernstein L.P. acquired a new stake in Archer Aviation during the 3rd quarter worth about $47,000. Finally, State Street Corp boosted its position in Archer Aviation by 9.3% during the 3rd quarter. State Street Corp now owns 7,613,771 shares of the company’s stock worth $19,872,000 after acquiring an additional 649,634 shares during the period. Hedge funds and other institutional investors own 41.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays reduced their price objective on shares of Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating for the company in a research note on Tuesday, November 15th. JPMorgan Chase & Co. decreased their price objective on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a report on Tuesday, October 18th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.10.

Archer Aviation Company Profile

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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.