Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell Sells 45,974 Shares

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) General Counsel Eric Lentell sold 45,974 shares of Archer Aviation stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $597,202.26. Following the transaction, the general counsel now owns 95,896 shares of the company's stock, valued at $1,245,689.04. This represents a 32.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 31st, Eric Lentell sold 50,004 shares of Archer Aviation stock. The shares were sold at an average price of $7.04, for a total value of $352,028.16.
• 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 value of $332,871.00.

Archer Aviation Stock Performance

ACHR stock traded up $1.08 during midday trading on Friday, hitting $13.27. The company's stock had a trading volume of 71,502,560 shares, compared to its average volume of 22,604,615. The stock's 50-day moving average price is $8.16 and its 200 day moving average price is $8.11. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $14.35. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of -10.05 and a beta of 3.13.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC boosted its stake in Archer Aviation by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock valued at $156,000 after acquiring an additional 1,000 shares during the last quarter. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% in 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 last quarter. Anchor Investment Management LLC lifted its position in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after buying an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC lifted its position in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after buying an additional 1,246 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after buying an additional 1,299 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ACHR. HC Wainwright reaffirmed a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Tuesday. Needham & Company LLC restated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $13.00 price target on shares of Archer Aviation in a report on Friday. Raymond James boosted their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group boosted their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.