Insider Selling: Archer Aviation Inc. (NYSE:ACHR) General Counsel Sells $597,202.26 in Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 45,974 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $12.99, for a total value of $597,202.26. Following the completion of the transaction, the general counsel now owns 95,896 shares in the company, valued at $1,245,689.04. The trade was a 32.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, March 31st, Eric Lentell sold 50,004 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total value of $352,028.16.
• On Tuesday, March 4th, Eric Lentell sold 43,230 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $332,871.00.

Archer Aviation Stock Up 8.9%

Shares of NYSE:ACHR opened at $13.27 on Monday. The business has a 50-day moving average price of $8.16 and a 200 day moving average price of $8.18. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of -10.05 and a beta of 3.13. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $13.92.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. Sell-side analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Archer Aviation in a research note on Friday. Finally, Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.50.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in Archer Aviation in the 4th quarter valued at about $27,000. Conquis Financial LLC acquired a new position in Archer Aviation in the 4th quarter valued at about $29,000. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its position in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.