Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells $286,605.55 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 Friday, May 15th, Eric Lentell sold 39,967 shares of Archer Aviation stock. The stock was sold at an average price of $6.06, for a total transaction of $242,200.02.
• 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 Stock Up 5.8%

Shares of Archer Aviation stock opened at $6.12 on Friday. The company has a fifty day moving average price of $5.85 and a 200 day moving average price of $7.14. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. Archer Aviation Inc. has a twelve month low of $4.80 and a twelve month high of $14.62. The stock has a market cap of $4.55 billion, a price-to-earnings ratio of -5.56 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same period last year, the business posted ($0.17) earnings per share. Equities research analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACHR. Canaccord Genuity Group decreased their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Needham & Company LLC decreased their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Gould Capital LLC boosted its position in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the last quarter. Strs Ohio purchased a new position in Archer Aviation in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its position in Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after buying an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new position in Archer Aviation in the 3rd quarter valued at about $29,000. Finally, Modus Advisors LLC purchased a new position in Archer Aviation in the 4th quarter valued at about $29,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.