Archer Aviation (NYSE:ACHR) Insider Eric Lentell Sells 41,490 Shares

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 41,490 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the completion of the transaction, the insider owned 83,733 shares in the company, valued at $627,160.17. This represents a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Archer Aviation Trading Up 2.2%

Shares of Archer Aviation stock opened at $7.59 on Wednesday. The stock has a 50 day moving average of $10.23 and a 200 day moving average of $10.23. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -6.02 and a beta of 3.07. Archer Aviation Inc. has a fifty-two week low of $4.33 and a fifty-two week high of $14.62.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). As a group, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Archer Aviation by 45.8% in the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after purchasing an additional 16,452,398 shares in the last quarter. Man Group plc lifted its holdings in Archer Aviation by 13,793.3% during the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after buying an additional 4,182,400 shares in the last quarter. Geode Capital Management LLC boosted its position in Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company’s stock valued at $130,125,000 after buying an additional 3,671,753 shares during the period. Nuveen LLC acquired a new position in shares of Archer Aviation in the first quarter worth $22,423,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Archer Aviation by 435.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company’s stock worth $40,688,000 after acquiring an additional 3,050,000 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHR. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reduced their price target on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Cantor Fitzgerald set a $13.00 price target on Archer Aviation in a research note on Monday, November 10th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.57.

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.