Eric Lentell Sells 43,230 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 43,230 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at $409,832.50. This represents a 44.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, December 4th, Eric Lentell sold 114,788 shares of Archer Aviation stock. The shares were sold at an average price of $6.74, for a total value of $773,671.12.

Archer Aviation Price Performance

Shares of NYSE ACHR traded up $0.10 during trading on Tuesday, reaching $7.98. The company had a trading volume of 29,942,203 shares, compared to its average volume of 33,566,488. Archer Aviation Inc. has a twelve month low of $2.82 and a twelve month high of $12.48. The stock has a market capitalization of $3.39 billion, a PE ratio of -6.04 and a beta of 3.13. The stock has a 50-day moving average price of $9.56 and a two-hundred day moving average price of $6.31. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter valued at $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation during the fourth quarter valued at about $29,000. Oarsman Capital Inc. grew its position in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares during the period. Harbour Investments Inc. grew its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC grew its position in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ACHR shares. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC raised their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.61.

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.