Archer Aviation (NYSE:ACHR) Insider Sells $310,760.10 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 41,490 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. The trade was a 33.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Archer Aviation Trading Up 2.2%

NYSE ACHR traded up $0.17 during trading hours on Tuesday, hitting $7.59. 57,693,906 shares of the company were exchanged, compared to its average volume of 69,731,488. Archer Aviation Inc. has a 52 week low of $4.33 and a 52 week high of $14.62. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $10.23 and a 200 day moving average price of $10.23. The stock has a market cap of $4.94 billion, a PE ratio of -6.02 and a beta of 3.07.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). Analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in Archer Aviation in the first quarter worth approximately $27,000. Tidemark LLC boosted its position in Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. AlphaQuest LLC raised its position in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the 3rd quarter worth $29,000. Finally, Bank of Jackson Hole Trust boosted its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald set a $13.00 price target on shares of Archer Aviation in a report on Monday, November 10th. Canaccord Genuity Group decreased 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 note on Tuesday, November 11th. JPMorgan Chase & Co. reduced their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Needham & Company LLC decreased their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

About Archer Aviation

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.