Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells $631,000.00 in Stock

Key Points

• Insider Eric Lentell sold 100,000 Archer Aviation shares for approximately $631,000 at an average price of $6.31, reducing his direct holdings by 54.05% to 85,011 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Archer shares traded around $6.32, with a market capitalization of approximately $4.87 billion. The company recently reported a quarterly loss of $0.34 per share and $5 million in revenue, exceeding analysts’ revenue expectations.
• Analyst sentiment is mixed but generally favorable: five analysts rate the stock Buy, three Hold, and one Sell, producing a consensus rating of Hold and an average price target of $11.50. Institutional investors own approximately 59.34% of ACHR.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Eric Lentell sold 100,000 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the completion of the sale, the insider directly owned 85,011 shares of the company's stock, valued at approximately $536,419.41. This represents a 54.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, August 17th, Eric Lentell sold 52,762 shares of Archer Aviation stock. The stock was sold at an average price of $6.41, for a total value of $338,204.42.
• On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The shares were sold at an average price of $5.00, for a total transaction of $18,770.00.

Archer Aviation Stock Performance

Archer Aviation stock traded up $0.23 during mid-day trading on Friday, hitting $6.32. The company had a trading volume of 32,782,778 shares, compared to its average volume of 40,927,832. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of -5.85 and a beta of 3.20. Archer Aviation Inc. has a 12-month low of $4.30 and a 12-month high of $14.62. The company's fifty day moving average is $5.30 and its 200-day moving average is $5.89. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued 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 analyst estimates of $1.94 million. Equities research analysts predict that Archer Aviation Inc. will post -1.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. Seven Grand Managers LLC bought a new position in Archer Aviation in the 4th quarter worth approximately $22,560,000. Norges Bank bought a new stake in Archer Aviation in the fourth quarter valued at about $58,494,000. California State Teachers Retirement System grew its stake in shares of Archer Aviation by 21.0% in the 1st quarter. California State Teachers Retirement System now owns 716,066 shares of the company's stock valued at $3,702,000 after purchasing an additional 124,052 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock valued at $411,165,000 after acquiring an additional 2,312,899 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Archer Aviation by 14.9% in the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company's stock valued at $108,197,000 after purchasing an additional 1,867,648 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on ACHR. UBS Group reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a "buy" rating and set a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a report on Friday, July 17th. Finally, HC Wainwright reissued a "buy" rating on shares of Archer Aviation in a report on Tuesday, August 11th. Five equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $11.50.

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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