Eric Lentell Sells 3,754 Shares of Archer Aviation (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHRGet Free Report) insider Eric Lentell sold 3,754 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $5.00, for a total transaction of $18,770.00. Following the transaction, the insider directly owned 137,330 shares in the company, valued at approximately $686,650. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through 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 Monday, May 18th, Eric Lentell sold 48,169 shares of Archer Aviation stock. The stock was sold at an average price of $5.95, for a total transaction of $286,605.55.
  • 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 transaction of $242,200.02.

Archer Aviation Trading Down 2.1%

NYSE ACHR opened at $5.44 on Wednesday. The company’s fifty day simple moving average is $5.98 and its 200-day simple moving average is $6.87. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week high of $14.62. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $4.13 billion, a P/E ratio of -4.94 and a beta of 3.14.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.28) 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 analyst estimates of $1.66 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts predict that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.

Key Stories Impacting Archer Aviation

Here are the key news stories impacting Archer Aviation this week:

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. 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 note on Tuesday, May 12th. Finally, Needham & Company LLC reduced 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 research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.83.

Check Out Our Latest Report on ACHR

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its stake in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after buying an additional 1,220 shares during the last quarter. Clear Creek Financial Management LLC raised its position in shares of Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after acquiring an additional 1,254 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Archer Aviation by 8.2% during the 3rd quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company’s stock valued at $160,000 after acquiring an additional 1,268 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after acquiring an additional 1,373 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its position in shares of Archer Aviation by 3.4% during the 4th quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock valued at $331,000 after acquiring an additional 1,440 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About Archer Aviation

(Get Free Report)

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.

Recommended Stories

Insider Buying and Selling by Quarter for Archer Aviation (NYSE:ACHR)

Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.