Archer Aviation (NYSE:ACHR) Insider Eric Lentell Sells 39,967 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 39,967 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $6.06, for a total value of $242,200.02. Following the completion of the transaction, the insider owned 189,253 shares in the company, valued at $1,146,873.18. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Eric Lentell also recently made the following trade(s):

• On Monday, May 18th, Eric Lentell sold 48,169 shares of Archer Aviation stock. The shares were sold at an average price of $5.95, for a total value of $286,605.55.
• On Friday, March 13th, Eric Lentell sold 8,059 shares of Archer Aviation stock. The shares were sold at an average price of $6.27, for a total value of $50,529.93.
• On Thursday, March 5th, Eric Lentell sold 37,390 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total value of $241,539.40.

Archer Aviation Stock Down 0.1%

Shares of ACHR opened at $5.92 on Wednesday. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The business’s fifty day moving average price is $5.87 and its two-hundred day moving average price is $7.21. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week high of $14.62.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, analysts predict that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ACHR. Canaccord Genuity Group reduced their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. AQR Capital Management LLC acquired a new stake in Archer Aviation during the 1st quarter worth $293,000. Integrated Wealth Concepts LLC raised its stake in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock worth $1,366,000 after buying an additional 59,317 shares during the period. NewEdge Advisors LLC raised its stake in Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after buying an additional 1,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Archer Aviation by 51.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after buying an additional 285,414 shares during the period. 59.34% of the stock is currently owned by institutional investors.

About Archer Aviation

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.