Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells $310,760.10 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 41,490 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $310,760.10. Following the sale, the insider directly owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Archer Aviation Price Performance

Archer Aviation stock opened at $6.90 on Friday. The firm has a market capitalization of $4.49 billion, a P/E ratio of -5.47 and a beta of 3.07. Archer Aviation Inc. has a one year low of $4.94 and a one year high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The business has a fifty day moving average price of $10.18 and a 200-day moving average price of $10.18.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaQuest LLC increased its holdings in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. GAMMA Investing LLC grew its position in Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after acquiring an additional 2,024 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation in the third quarter valued at $29,000. Bank of Jackson Hole Trust raised its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACHR. Cantor Fitzgerald set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Canaccord Genuity Group cut their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Needham & Company LLC reduced their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $12.57.

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.