Archer Aviation (NYSE:ACHR) Insider Sells 39,967 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 39,967 shares of Archer Aviation stock in a transaction on Friday, May 15th. The stock was sold at an average price of $6.06, for a total transaction of $242,200.02. Following the transaction, the insider directly owned 189,253 shares in the company, valued at $1,146,873.18. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction 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 shares were sold at an average price of $6.46, for a total transaction of $241,539.40.

Archer Aviation Stock Performance

Shares of Archer Aviation stock traded down $0.01 during mid-day trading on Tuesday, hitting $5.92. 49,532,138 shares of the stock were exchanged, compared to its average volume of 39,406,728. The company has a market capitalization of $4.40 billion, a P/E ratio of -5.38 and a beta of 3.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The company has a 50-day simple moving average of $5.87 and a 200 day simple moving average of $7.21. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ACHR has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Needham & Company LLC lowered their target price 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. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Vanguard Group Inc. increased its holdings in Archer Aviation by 45.8% during the 3rd quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after acquiring an additional 16,452,398 shares during the period. Norges Bank purchased a new stake in Archer Aviation in the 4th quarter worth approximately $58,494,000. Man Group plc boosted its holdings in Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after purchasing an additional 4,182,400 shares during the period. BNP Paribas Financial Markets increased its holdings 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 period. Finally, ARK Investment Management LLC raised its position 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 buying an additional 3,869,252 shares in 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.