Eric Lentell Sells 43,230 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the sale, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, December 4th, Eric Lentell sold 114,788 shares of Archer Aviation stock. The shares were sold at an average price of $6.74, for a total value of $773,671.12.

Archer Aviation Stock Performance

Shares of Archer Aviation stock opened at $8.13 on Thursday. The business has a 50-day moving average price of $9.50 and a two-hundred day moving average price of $6.34. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.46 billion, a P/E ratio of -6.16 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ACHR. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald increased their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC lifted their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Canaccord Genuity Group upped their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Institutional Trading of Archer Aviation

Large investors have recently modified their holdings of the stock. Creative Planning lifted its position in shares of Archer Aviation by 74.1% during the 3rd quarter. Creative Planning now owns 28,851 shares of the company’s stock valued at $87,000 after acquiring an additional 12,278 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares during the period. Vestor Capital LLC bought a new stake in Archer Aviation in the third quarter valued at $61,000. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the third quarter valued at about $26,000. Finally, Intellectus Partners LLC boosted its position in shares of Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after purchasing an additional 11,800 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.