Eric Lentell Sells 45,974 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 45,974 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $12.99, for a total transaction of $597,202.26. Following the transaction, the general counsel now owns 95,896 shares of the company’s stock, valued at approximately $1,245,689.04. This represents a 32.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 31st, Eric Lentell sold 50,004 shares of Archer Aviation stock. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16.
• On Tuesday, March 4th, Eric Lentell sold 43,230 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00.

Archer Aviation Trading Up 8.9%

ACHR opened at $13.27 on Friday. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $13.92. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $8.16 and a 200-day moving average of $8.14. The stock has a market cap of $7.20 billion, a PE ratio of -10.05 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Friday. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Tuesday, May 13th. Finally, Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. Conquis Financial LLC acquired a new stake in Archer Aviation in the fourth quarter worth $29,000. Oarsman Capital Inc. grew its holdings in Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. grew its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC grew its holdings in Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Company Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.