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 stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $3.15, for a total transaction of $315,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own at least 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 Friday, September 9th, Brett Adcock sold 100,000 shares of Archer Aviation stock. The shares were sold at an average price of $3.50, for a total transaction of $350,000.00.
  • On Wednesday, August 3rd, Brett Adcock sold 100,000 shares of Archer Aviation stock. The shares were sold at an average price of $4.39, for a total transaction of $439,000.00.
  • On Thursday, July 28th, Brett Adcock sold 47,090 shares of Archer Aviation stock. The shares were sold at an average price of $3.92, for a total transaction of $184,592.80.

Archer Aviation Trading Down 5.0 %

NYSE ACHR opened at $3.01 on Friday. The company has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $3.87. Archer Aviation Inc. has a 12-month low of $2.61 and a 12-month high of $10.00. The company has a quick ratio of 15.31, a current ratio of 15.31 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Archer Aviation by 1,667.7% in the second quarter. State Street Corp now owns 6,964,137 shares of the company’s stock worth $21,450,000 after buying an additional 6,570,169 shares during the last quarter. Greycroft LP purchased a new position in shares of Archer Aviation in the fourth quarter worth $37,853,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Archer Aviation during the second quarter worth $16,234,000. Nikko Asset Management Americas Inc. raised its holdings in shares of Archer Aviation by 1.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 5,270,793 shares of the company’s stock worth $16,181,000 after purchasing an additional 50,040 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Archer Aviation by 31.9% during the first quarter. Invesco Ltd. now owns 4,464,734 shares of the company’s stock worth $21,475,000 after purchasing an additional 1,079,978 shares during the last quarter. Hedge funds and other institutional investors own 58.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ACHR. Barclays lowered their target price on shares of Archer Aviation from $5.50 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, September 12th. Raymond James began coverage on shares of Archer Aviation in a research note on Wednesday, July 27th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $10.00 to $12.00 in a research note on Tuesday, August 16th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

About Archer Aviation

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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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