Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Brett Adcock Sells 217,336 Shares

Archer Aviation Inc. (NYSE:ACHR – Get Rating) major shareholder Brett Adcock sold 217,336 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $3.06, for a total value of $665,048.16. Following the transaction, the insider now owns 4,159,347 shares of the company’s stock, valued at $12,727,601.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, May 22nd, Brett Adcock sold 1,718,829 shares of Archer Aviation stock. The shares were sold at an average price of $3.26, for a total value of $5,603,382.54.

Archer Aviation Stock Performance

Shares of NYSE:ACHR traded up $0.16 during trading on Friday, reaching $3.06. The company had a trading volume of 2,506,814 shares, compared to its average volume of 1,992,327. The firm has a market capitalization of $757.20 million, a price-to-earnings ratio of -2.00 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 7.28 and a quick ratio of 7.28. The stock’s fifty day moving average price is $2.42 and its 200 day moving average price is $2.49. Archer Aviation Inc. has a fifty-two week low of $1.62 and a fifty-two week high of $5.16.

Archer Aviation (NYSE:ACHR – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.04. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.91 EPS for the current year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently modified their holdings of ACHR. Point72 Middle East FZE purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $27,000. FMR LLC increased its stake in Archer Aviation by 233.6% during the first quarter. FMR LLC now owns 10,265 shares of the company’s stock worth $29,000 after acquiring an additional 7,188 shares during the last quarter. Advisory Alpha LLC purchased a new stake in shares of Archer Aviation in the first quarter worth about $30,000. AE Wealth Management LLC purchased a new stake in shares of Archer Aviation in the first quarter worth about $30,000. Finally, Quantbot Technologies LP boosted its position in shares of Archer Aviation by 1,114.0% in the third quarter. Quantbot Technologies LP now owns 11,824 shares of the company’s stock worth $30,000 after buying an additional 10,850 shares during the period. 41.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, March 10th.

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.