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

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 50,004 shares of the firm’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 in the company, 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 filing with the SEC, which can be accessed through this link.

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 Trading Down 2.2 %

Shares of ACHR stock opened at $6.96 on Wednesday. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $8.67 and a 200-day moving average of $6.94. Archer Aviation Inc. has a 12-month low of $2.82 and a 12-month high of $12.48. The firm has a market cap of $3.77 billion, a P/E ratio of -5.27 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACHR. HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC increased their target price on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Institutional Trading of Archer Aviation

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

About Archer Aviation

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.