Archer Aviation (NYSE:ACHR) Insider Sells $242,200.02 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 39,967 shares of the firm’s 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 completion of the sale, the insider owned 189,253 shares of the company’s stock, valued at $1,146,873.18. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 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 stock was sold at an average price of $6.46, for a total transaction of $241,539.40.

Archer Aviation Trading Up 5.8%

NYSE:ACHR opened at $6.12 on Friday. 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 $4.55 billion, a price-to-earnings ratio of -5.56 and a beta of 3.13. The firm has a fifty day simple moving average of $5.85 and a two-hundred day simple moving average of $7.14. Archer Aviation Inc. has a 12 month low of $4.80 and a 12 month high of $14.62.

Archer Aviation (NYSE:ACHR) last posted 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 business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the firm earned ($0.17) EPS. Analysts expect that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Western Wealth Management LLC grew its holdings in shares of Archer Aviation by 22.0% during the first quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock valued at $119,000 after buying an additional 4,144 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Archer Aviation by 33.2% during the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock valued at $11,048,000 after buying an additional 532,762 shares during the last quarter. Amundi grew its holdings in shares of Archer Aviation by 134.9% during the first quarter. Amundi now owns 71,397 shares of the company’s stock valued at $369,000 after buying an additional 41,008 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Archer Aviation by 21.0% during the first quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock valued at $3,702,000 after buying an additional 124,052 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new position in shares of Archer Aviation during the first quarter valued at about $709,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACHR has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report 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 report on Tuesday, May 12th. Finally, Needham & Company LLC reduced their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.