Archer Aviation (NYSE:ACHR) Insider Sells $18,770.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 3,754 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $5.00, for a total value of $18,770.00. Following the completion of the sale, the insider directly owned 137,330 shares in the company, valued at approximately $686,650. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, May 15th, Eric Lentell sold 39,967 shares of Archer Aviation stock. The shares were sold at an average price of $6.06, for a total value of $242,200.02.

Archer Aviation Trading Down 1.4%

Shares of NYSE:ACHR opened at $5.37 on Thursday. The company has a market cap of $4.08 billion, a P/E ratio of -4.88 and a beta of 3.14. The stock’s 50-day moving average is $5.97 and its 200-day moving average is $6.85. Archer Aviation Inc. has a 52-week low of $4.80 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06.

Archer Aviation (NYSE:ACHR) last issued 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 the consensus estimate of $1.66 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Equities research analysts predict that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after buying an additional 2,312,899 shares in the last quarter. ARK Investment Management LLC grew its position in Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after buying an additional 3,869,252 shares in the last quarter. State Street Corp grew its position in Archer Aviation by 11.2% during the fourth quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after buying an additional 3,293,130 shares in the last quarter. Morgan Stanley grew its position in Archer Aviation by 21.6% during the fourth quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after buying an additional 2,796,488 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Archer Aviation by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after buying an additional 1,867,648 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACHR has been the topic of several research analyst reports. Canaccord Genuity Group lowered 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Needham & Company LLC decreased their target price 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. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Company Profile

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.