Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells 8,059 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 8,059 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $50,529.93. Following the sale, the insider directly owned 150,119 shares in the company, valued at approximately $941,246.13. The trade was a 5.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 Up 1.6%

NYSE:ACHR traded up $0.10 on Monday, reaching $6.13. The stock had a trading volume of 34,232,629 shares, compared to its average volume of 29,777,946. Archer Aviation Inc. has a 12-month low of $5.48 and a 12-month high of $14.62. The firm’s fifty day moving average is $7.46 and its two-hundred day moving average is $8.61. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The firm’s quarterly revenue was up 29900.0% compared to the same quarter last year. On average, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Bank of Jackson Hole Trust boosted its holdings in Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Archer Aviation by 2.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after acquiring an additional 1,107 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Archer Aviation by 7.0% in the 4th 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 during the period. HighPoint Advisor Group LLC lifted its stake in shares of Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Clear Creek Financial Management LLC lifted its stake in shares of Archer Aviation by 2.9% in the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after purchasing an additional 1,254 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Finally, Needham & Company LLC cut their price objective 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 analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.00.

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.