Archer Aviation Inc. (NYSE:ACHR) Major Shareholder Brett Adcock Sells 180,000 Shares

Archer Aviation Inc. (NYSE:ACHRGet Rating) major shareholder Brett Adcock sold 180,000 shares of the firm’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $2.20, for a total value of $396,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major 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, January 9th, Brett Adcock sold 150,000 shares of Archer Aviation stock. The stock was sold at an average price of $2.35, for a total value of $352,500.00.
  • On Wednesday, January 4th, Brett Adcock sold 130,000 shares of Archer Aviation stock. The stock was sold at an average price of $2.13, for a total value of $276,900.00.
  • On Monday, December 5th, Brett Adcock sold 49,584 shares of Archer Aviation stock. The shares were sold at an average price of $2.41, for a total value of $119,497.44.
  • On Friday, December 2nd, Brett Adcock sold 120,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.51, for a total value of $301,200.00.
  • On Wednesday, November 30th, Brett Adcock sold 120,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.32, for a total value of $278,400.00.
  • On Monday, November 28th, Brett Adcock sold 4,096 shares of Archer Aviation stock. The shares were sold at an average price of $2.40, for a total value of $9,830.40.
  • On Tuesday, November 22nd, Brett Adcock sold 100,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.41, for a total value of $241,000.00.
  • On Tuesday, November 1st, Brett Adcock sold 62,301 shares of Archer Aviation stock. The shares were sold at an average price of $2.79, for a total value of $173,819.79.
  • On Tuesday, October 25th, Brett Adcock sold 100,000 shares of Archer Aviation stock. The shares were sold at an average price of $2.78, for a total value of $278,000.00.
  • On Thursday, October 20th, Brett Adcock sold 11,319 shares of Archer Aviation stock. The stock was sold at an average price of $2.80, for a total value of $31,693.20.

Archer Aviation Price Performance

Shares of NYSE ACHR opened at $2.35 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 14.05 and a current ratio of 14.05. The stock’s fifty day simple moving average is $2.28 and its 200 day simple moving average is $2.95. Archer Aviation Inc. has a 52-week low of $1.62 and a 52-week high of $5.24.

Archer Aviation (NYSE:ACHRGet Rating) last issued its earnings results on Thursday, November 10th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.03. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new position in shares of Archer Aviation during the second quarter valued at $26,000. BBR Partners LLC purchased a new position in shares of Archer Aviation during the second quarter valued at $30,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Archer Aviation during the first quarter valued at $50,000. Private Advisor Group LLC purchased a new position in shares of Archer Aviation during the second quarter valued at $33,000. Finally, Quantbot Technologies LP grew its holdings in shares of Archer Aviation by 1,114.0% during the third quarter. Quantbot Technologies LP now owns 11,824 shares of the company’s stock valued at $30,000 after buying an additional 10,850 shares in the last quarter. 41.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on ACHR. JPMorgan Chase & Co. dropped their price objective on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 18th. Barclays dropped their price objective on Archer Aviation from $4.00 to $3.50 and set an “equal weight” rating on the stock in a research note on Tuesday, November 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.10.

Archer Aviation Company Profile

(Get Rating)

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.

Further Reading

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

Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.