Insider Selling: Archer Aviation Inc. (NYSE:ACHR) General Counsel Sells 50,004 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 50,004 shares of the business’s stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $352,028.16. Following the completion of the sale, the general counsel now owns 45,416 shares of the company’s stock, valued at approximately $319,728.64. The trade was a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, March 4th, Eric Lentell sold 43,230 shares of Archer Aviation stock. The shares were sold at an average price of $7.70, for a total transaction of $332,871.00.

Archer Aviation Stock Down 2.2 %

NYSE ACHR traded down $0.16 on Tuesday, reaching $6.96. The company had a trading volume of 20,537,891 shares, compared to its average volume of 19,553,241. The firm has a market capitalization of $3.77 billion, a PE ratio of -5.27 and a beta of 3.14. The firm has a 50-day moving average of $8.67 and a 200-day moving average of $6.94. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACHR. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, Needham & Company LLC boosted their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.61.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation in the fourth quarter worth about $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation during the 4th quarter worth approximately $29,000. Oarsman Capital Inc. raised its position in shares of Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.