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

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 48,169 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 141,084 shares in the company, valued at $839,449.80. This represents a 25.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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.
• 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 value of $50,529.93.
• On Thursday, March 5th, Eric Lentell sold 37,390 shares of Archer Aviation stock. The shares were sold at an average price of $6.46, for a total value of $241,539.40.

Archer Aviation Stock Performance

ACHR stock traded down $0.01 during trading on Tuesday, hitting $5.92. 49,532,138 shares of the company’s stock traded hands, compared to its average volume of 39,406,728. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -5.38 and a beta of 3.13. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week high of $14.62. The stock has a fifty day moving average price of $5.87 and a two-hundred day moving average price of $7.21. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last issued 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 business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same period in the prior year, the firm posted ($0.17) EPS. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. increased its stake in Archer Aviation by 21.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after buying an additional 1,407,775 shares during the period. AlphaQuest LLC raised its holdings in Archer Aviation by 3,207.5% during the third quarter. AlphaQuest LLC now owns 85,202 shares of the company’s stock valued at $816,000 after buying an additional 82,626 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after acquiring an additional 2,312,899 shares in the last quarter. Generali Powszechne Towarzystwo Emerytalne bought a new stake in Archer Aviation during the fourth quarter worth approximately $7,520,000. Finally, Teachers Retirement System of The State of Kentucky bought a new position in shares of Archer Aviation in the third quarter valued at approximately $816,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reduced their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Canaccord Genuity Group reduced their target price 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, May 12th. Five investment 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. According to MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price 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.