Eric Lentell Sells 100,000 Shares of Archer Aviation (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider owned 85,011 shares in the company, valued at $536,419.41. This trade represents a 54.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Eric Lentell sold 52,762 shares of Archer Aviation stock. The stock was sold at an average price of $6.41, for a total value of $338,204.42.
• On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The shares were sold at an average price of $5.00, for a total value of $18,770.00.

Archer Aviation Price Performance

ACHR stock opened at $6.32 on Friday. The business’s fifty day moving average price is $5.30 and its 200 day moving average price is $5.89. Archer Aviation Inc. has a 12-month low of $4.30 and a 12-month high of $14.62. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.87 billion, a PE ratio of -5.85 and a beta of 3.20.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $1.94 million. On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ACHR. Barclays upgraded shares of Archer Aviation to a “hold” rating in a report on Wednesday, July 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Hold” and an average target price of $11.50.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after purchasing an additional 1,220 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. Choreo LLC raised its stake in Archer Aviation by 8.1% in the fourth quarter. Choreo LLC now owns 20,802 shares of the company’s stock valued at $157,000 after buying an additional 1,555 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after buying an additional 1,702 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after acquiring an additional 1,738 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

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.