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

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 shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the completion of the transaction, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 transaction of $242,200.02.
• On Friday, March 13th, Eric Lentell sold 8,059 shares of Archer Aviation stock. The shares were 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 Price Performance

Shares of ACHR stock opened at $5.92 on Wednesday. Archer Aviation Inc. has a 1 year low of $4.80 and a 1 year high of $14.62. The firm’s 50 day moving average is $5.87 and its 200-day moving average 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 current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the firm earned ($0.17) EPS. Sell-side analysts forecast that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of the business. Western Wealth Management LLC grew its holdings in Archer Aviation by 22.0% during the 1st quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock worth $119,000 after acquiring an additional 4,144 shares during the period. Bank of America Corp DE grew its holdings in Archer Aviation by 33.2% during the 1st quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock worth $11,048,000 after acquiring an additional 532,762 shares during the period. Amundi grew its holdings in Archer Aviation by 134.9% during the 1st quarter. Amundi now owns 71,397 shares of the company’s stock worth $369,000 after acquiring an additional 41,008 shares during the period. California State Teachers Retirement System grew its holdings in Archer Aviation by 21.0% during the 1st quarter. California State Teachers Retirement System now owns 716,066 shares of the company’s stock worth $3,702,000 after acquiring an additional 124,052 shares during the period. Finally, SummitTX Capital L.P. acquired a new stake in Archer Aviation during the 1st quarter worth $709,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group lowered their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Needham & Company LLC lowered their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Five equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.83.

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.