Archer Aviation (NYSE:ACHR) Insider Eric Lentell Sells 48,936 Shares

Key Points

• Insider Eric Lentell sold 48,936 shares of Archer Aviation at an average price of $9.83, totaling approximately $481,000, reducing his ownership by 50.74%.
• Archer Aviation shares are currently trading at $9.2950 after a decline of 5.6%, with a one-year high of $13.92 and a low of $2.82.
• The company reported a quarterly earnings loss of ($0.36) per share, missing the consensus estimate, and analysts project an earnings per share of -$1.32 for the current fiscal year.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Eric Lentell sold 48,936 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $481,040.88. Following the completion of the transaction, the insider directly owned 47,518 shares in the company, valued at $467,101.94. This trade represents a 50.74% 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 Monday, June 30th, Eric Lentell sold 95,896 shares of Archer Aviation stock. The shares were sold at an average price of $10.60, for a total value of $1,016,497.60.

Archer Aviation Trading Down 5.6%

Shares of NYSE ACHR traded down $0.5550 during midday trading on Tuesday, hitting $9.2950. 28,132,719 shares of the stock traded hands, compared to its average volume of 32,208,378. The firm has a 50-day moving average of $10.53 and a two-hundred day moving average of $9.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. Archer Aviation Inc. has a one year low of $2.82 and a one year high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ACHR shares. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.43.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACHR. Man Group plc lifted its holdings in shares of Archer Aviation by 13,793.3% in the 2nd quarter. Man Group plc now owns 4,212,722 shares of the company's stock valued at $45,708,000 after acquiring an additional 4,182,400 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company's stock valued at $130,125,000 after acquiring an additional 3,671,753 shares during the last quarter. Vanguard Group Inc. lifted its stake in Archer Aviation by 19.7% in the first quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company's stock worth $140,275,000 after purchasing an additional 3,249,106 shares during the last quarter. Nuveen LLC purchased a new position in shares of Archer Aviation during the first quarter worth approximately $22,423,000. Finally, Alyeska Investment Group L.P. increased its position in shares of Archer Aviation by 158.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after acquiring an additional 3,064,280 shares during the period. Institutional investors own 59.34% of the company's stock.

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.