Brett Adcock Sells 100,000 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHRGet Rating) major shareholder Brett Adcock sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $4.39, for a total value of $439,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Thursday, July 28th, Brett Adcock sold 47,090 shares of Archer Aviation stock. The stock was sold at an average price of $3.92, for a total value of $184,592.80.

Archer Aviation Stock Performance

Archer Aviation stock opened at $4.38 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 20.90 and a quick ratio of 20.90. Archer Aviation Inc. has a fifty-two week low of $2.61 and a fifty-two week high of $10.53. The stock’s fifty day moving average is $3.80 and its two-hundred day moving average is $3.72.

Archer Aviation (NYSE:ACHRGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.10). Sell-side analysts forecast that Archer Aviation Inc. will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new position in shares of Archer Aviation in the 2nd quarter worth about $26,000. BBR Partners LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $61,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Archer Aviation in the first quarter valued at about $50,000. Private Advisor Group LLC acquired a new stake in shares of Archer Aviation in the second quarter valued at about $33,000. Finally, CIBC Asset Management Inc acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $71,000. 37.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACHR has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Archer Aviation in a research note on Monday, April 11th. They set a “buy” rating and a $10.00 price target for the company. Benchmark dropped their price objective on Archer Aviation to $12.00 and set a “na” rating on the stock in a report on Thursday, May 19th. JPMorgan Chase & Co. began coverage on Archer Aviation in a report on Thursday, April 28th. They set an “overweight” rating and a $7.00 price objective on the stock. Finally, Raymond James began coverage on Archer Aviation in a report on Wednesday, July 27th. They set an “outperform” rating and a $8.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $9.42.

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.

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

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