Archer Aviation (NYSE:ACHR) Insider Eric Lentell Sells 100,000 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the insider owned 85,011 shares of the company’s stock, valued at $536,419.41. This represents a 54.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Eric Lentell sold 52,762 shares of Archer Aviation stock. The shares were sold at an average price of $6.41, for a total transaction of $338,204.42.
• On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The shares were sold at an average price of $5.00, for a total transaction of $18,770.00.

Archer Aviation Price Performance

Shares of NYSE:ACHR opened at $6.32 on Friday. Archer Aviation Inc. has a 12 month low of $4.30 and a 12 month high of $14.62. The firm has a market capitalization of $4.87 billion, a P/E ratio of -5.85 and a beta of 3.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. The company’s fifty day moving average price is $5.30 and its 200 day moving average price is $5.89.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). The company had revenue of $5.00 million during the quarter, compared to analyst estimates of $1.94 million. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACHR shares. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Wells Fargo & Company set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Hold” and an average target price of $11.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC purchased a new stake in shares of Archer Aviation during the first quarter worth approximately $293,000. Integrated Wealth Concepts LLC grew its position in Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Archer Aviation by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC increased its stake in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $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 increased its stake in Archer Aviation by 51.1% in 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 valued at $6,001,000 after buying an additional 285,414 shares during the period. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.