Eric Lentell Sells 3,754 Shares of Archer Aviation (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 3,754 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $5.00, for a total value of $18,770.00. Following the completion of the transaction, the insider directly owned 137,330 shares in the company, valued at $686,650. The trade was a 2.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value of $286,605.55.
• On Friday, May 15th, Eric Lentell sold 39,967 shares of Archer Aviation stock. The shares were sold at an average price of $6.06, for a total value of $242,200.02.

Archer Aviation Stock Up 8.8%

ACHR stock traded up $0.45 during mid-day trading on Monday, reaching $5.53. 57,256,032 shares of the company traded hands, compared to its average volume of 51,360,232. Archer Aviation Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $14.62. The firm’s 50 day moving average price is $5.98 and its 200 day moving average price is $6.88. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of -5.02 and a beta of 3.14.

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 company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACHR. Needham & Company LLC reduced their price target 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. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered 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 report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after acquiring an additional 2,507 shares during the last quarter. Strs Ohio purchased a new stake in shares of Archer Aviation during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after buying an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $29,000. Finally, Modus Advisors LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $29,000. 59.34% of the stock is owned by hedge funds and other 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.