Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells $631,000.00 in Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the insider directly owned 85,011 shares in the company, valued at $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Eric Lentell sold 52,762 shares of Archer Aviation stock. The stock was sold at an average price of $6.41, for a total transaction of $338,204.42.
• On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The stock was sold at an average price of $5.00, for a total value of $18,770.00.

Archer Aviation Price Performance

NYSE ACHR traded up $0.23 during trading hours on Friday, reaching $6.32. 32,782,778 shares of the company’s stock were exchanged, compared to its average volume of 40,927,832. The stock has a market cap of $4.87 billion, a PE ratio of -5.85 and a beta of 3.20. Archer Aviation Inc. has a one year low of $4.30 and a one year high of $14.62. The firm has a fifty day moving average of $5.30 and a 200-day moving average of $5.89. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.34). The business had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. On average, equities research analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ACHR shares. Canaccord Genuity Group cut their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. UBS Group reissued an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Needham & Company LLC reissued a “buy” rating and set a $9.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after acquiring an additional 2,312,899 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after buying an additional 3,869,252 shares during the last quarter. State Street Corp boosted its stake in shares of Archer Aviation by 11.2% during the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after acquiring an additional 3,293,130 shares during the period. Morgan Stanley boosted its stake in shares of Archer Aviation by 21.6% during the 4th quarter. Morgan Stanley now owns 15,717,522 shares of the company’s stock worth $118,196,000 after acquiring an additional 2,796,488 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock worth $108,197,000 after acquiring an additional 1,867,648 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Archer Aviation Company Profile

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.