Archer Aviation (NYSE:ACHR) Insider Sells $18,770.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 3,754 shares of Archer Aviation stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $5.00, for a total transaction of $18,770.00. Following the completion of the transaction, the insider directly owned 137,330 shares in the company, valued at $686,650. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Price Performance

Shares of Archer Aviation stock traded up $0.45 on Monday, hitting $5.53. The company’s stock had a trading volume of 57,256,032 shares, compared to its average volume of 51,360,232. Archer Aviation Inc. has a 52-week low of $4.80 and a 52-week high of $14.62. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $5.98 and a 200-day moving average price of $6.88. The company has a market capitalization of $4.20 billion, a P/E ratio of -5.02 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released 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 business 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 business posted ($0.17) EPS. On average, equities research analysts expect that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Large investors have recently made changes to their positions in the business. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the period. Strs Ohio bought a new stake in shares of Archer Aviation in the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the third quarter worth about $29,000. Finally, Modus Advisors LLC acquired a new stake in Archer Aviation in the 4th quarter valued at approximately $29,000. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACHR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. 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 report on Tuesday, May 12th. Finally, Needham & Company LLC cut their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

About Archer Aviation

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.