Adam D. Goldstein Buys 19,762 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein bought 19,762 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the completion of the transaction, the chief executive officer now owns 2,014,890 shares in the company, valued at $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Archer Aviation Stock Performance

ACHR opened at $6.04 on Friday. The firm has a market cap of $2.57 billion, a PE ratio of -4.55 and a beta of 2.29. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $3.42 and a 200-day simple moving average of $3.65. Archer Aviation Inc. has a fifty-two week low of $2.82 and a fifty-two week high of $7.01.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the company earned ($0.19) earnings per share. As a group, equities analysts predict that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on ACHR. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. Needham & Company LLC began coverage on Archer Aviation in a research report on Tuesday. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.33.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management boosted its position in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares during the period. Townsquare Capital LLC boosted its position in shares of Archer Aviation by 25.6% in the third quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the period. Hsbc Holdings PLC boosted its position in shares of Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares during the period. CWM LLC boosted its position in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after buying an additional 4,505 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.