Key Points
- Archer Aviation CTO Thomas Paul Muniz sold 44,740 shares on May 15 at an average price of $6.06, totaling about $271,124. The filing says the sale was to cover tax withholding tied to vested equity awards.
- Muniz has made several recent insider sales, including 91,839 shares on May 18, 9,580 shares on March 13, and 94,725 shares on March 5, indicating a pattern of stock reductions.
- Archer Aviation recently reported a wider-than-expected loss, with Q1 EPS of -$0.28 versus estimates of -$0.25 and revenue of $1.60 million versus $1.66 million expected. Analysts still have a consensus rating of Moderate Buy with an average price target of $11.83.
Archer Aviation Inc. (NYSE:ACHR - Get Free Report) CFO Priya Gupta sold 9,860 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the transaction, the chief financial officer directly owned 189,050 shares of the company's stock, valued at $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 shares were 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 shares were sold at an average price of $6.46, for a total value of $65,711.12.
Archer Aviation Stock Performance
Shares of NYSE ACHR opened at $5.92 on Wednesday. The stock has a 50 day moving average price of $5.87 and a 200 day moving average price 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 debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The stock has a market capitalization of $4.40 billion, a PE ratio of -5.38 and a beta of 3.13.
Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts' expectations of $1.66 million. During the same period in the previous year, the business earned ($0.17) earnings per share. Analysts predict that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have issued reports on ACHR shares. Needham & Company LLC dropped their price objective 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 restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Canaccord Genuity Group dropped their price objective 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.83.
Check Out Our Latest Analysis on ACHR
Hedge Funds Weigh In On Archer Aviation
A number of large investors have recently made changes to their positions in ACHR. Vanguard Group Inc. increased its stake in shares of Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company's stock worth $501,640,000 after purchasing an additional 16,452,398 shares during the period. Norges Bank bought a new position in shares of Archer Aviation during the fourth quarter worth approximately $58,494,000. Man Group plc increased its stake in shares of Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company's stock worth $45,708,000 after purchasing an additional 4,182,400 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company's stock worth $38,549,000 after purchasing an additional 4,146,574 shares during the period. Finally, 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 worth $264,484,000 after purchasing an additional 3,869,252 shares during the period. Institutional investors own 59.34% of the company's stock.
About Archer Aviation
(
Get Free Report)
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.
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