Archer Aviation (NYSE:ACHR) Insider Eric Lentell Sells 48,169 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 48,169 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This represents a 25.45% decrease in their position. The transaction was disclosed in a legal filing 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 value 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 Performance

Shares of NYSE:ACHR traded down $0.01 on Tuesday, hitting $5.92. 49,532,138 shares of the company were exchanged, compared to its average volume of 39,406,728. The company’s 50 day moving average price is $5.87 and its two-hundred day moving average price is $7.21. The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. Archer Aviation Inc. has a one year low of $4.80 and a one year high of $14.62.

Archer Aviation (NYSE:ACHR) last released its 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 during the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. Research analysts expect that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACHR shares. Canaccord Genuity Group reduced their target price on 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 target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock 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 research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust grew its holdings in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC raised its stake in shares of Archer Aviation by 2.5% in 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 lifted its position 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. HighPoint Advisor Group LLC grew its stake in shares of Archer Aviation by 3.6% during the third 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 during the last quarter. Finally, Clear Creek Financial Management LLC grew its stake in shares of Archer Aviation by 2.9% during the third 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 during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.