Archer Aviation (NYSE:ACHR) Insider Sells 52,762 Shares

Key Points

• Insider sale: Eric Lentell sold 52,762 Archer Aviation shares at an average price of $6.41, generating $338,204.42. The sale covered tax-withholding obligations tied to vested equity awards and reduced his position by 22.19%.
• Stock and earnings: ACHR shares fell 1.5% to $6.29, while the company reported quarterly revenue of $5 million and an adjusted loss of $0.34 per share, in line with analyst expectations.
• Analyst outlook remains mixed: Archer has a consensus “Hold” rating and an average price target of $11.50, with five Buy, three Hold, and one Sell rating. Institutional investors own approximately 59.34% of the company.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Eric Lentell sold 52,762 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $338,204.42. Following the transaction, the insider owned 185,011 shares in the company, valued at $1,185,920.51. This trade represents a 22.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The stock was sold at an average price of $5.00, for a total transaction of $18,770.00.

Archer Aviation Trading Down 1.5%

Shares of ACHR stock traded down $0.10 during trading hours on Tuesday, reaching $6.29. 31,776,667 shares of the stock were exchanged, compared to its average volume of 45,770,936. Archer Aviation Inc. has a 12-month low of $4.30 and a 12-month high of $14.62. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $5.23 and its 200-day moving average price is $5.90. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of -5.83 and a beta of 3.20.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to analysts' expectations of $1.94 million. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACHR. HC Wainwright restated a "buy" rating on shares of Archer Aviation in a report on Tuesday, August 11th. UBS Group reiterated an "overweight" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Barclays raised shares of Archer Aviation to a "hold" rating in a research note on Wednesday, July 29th. Canaccord Genuity Group decreased their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.50.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in Archer Aviation during the 1st quarter worth about $293,000. Integrated Wealth Concepts LLC lifted its position in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock worth $98,000 after purchasing an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company's stock valued at $1,366,000 after purchasing an additional 59,317 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Archer Aviation by 5.1% during the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after purchasing an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Archer Aviation by 51.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company's stock valued at $6,001,000 after buying an additional 285,414 shares during the period. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc NYSE: ACHR is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company's flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.

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