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

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 39,967 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 189,253 shares in the company, valued at approximately $1,146,873.18. The trade was a 17.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 stock was sold at an average price of $6.27, for a total transaction of $50,529.93.
• On Thursday, March 5th, Eric Lentell sold 37,390 shares of Archer Aviation stock. The stock was sold at an average price of $6.46, for a total transaction of $241,539.40.

Archer Aviation Price Performance

Shares of NYSE:ACHR traded down $0.01 during trading on Tuesday, reaching $5.92. The company had a trading volume of 49,532,138 shares, compared to its average volume of 39,406,728. The company has a fifty day moving average of $5.87 and a two-hundred day moving average of $7.21. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its 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 company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same period in the previous year, the business earned ($0.17) EPS. Equities research analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Archer Aviation by 45.8% in the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after buying an additional 16,452,398 shares in the last quarter. Norges Bank purchased a new stake in Archer Aviation during the 4th quarter valued at $58,494,000. Man Group plc increased its holdings in shares of Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after purchasing an additional 4,182,400 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Archer Aviation by 423.3% in the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after purchasing an additional 4,146,574 shares during the last quarter. Finally, ARK Investment Management LLC raised its stake in shares of Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.