Eric Lentell Sells 43,230 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. This trade represents a 44.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, December 4th, Eric Lentell sold 114,788 shares of Archer Aviation stock. The shares were sold at an average price of $6.74, for a total value of $773,671.12.

Archer Aviation Stock Performance

NYSE ACHR opened at $8.13 on Thursday. The firm’s 50 day simple moving average is $9.50 and its 200 day simple moving average is $6.34. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -6.16 and a beta of 3.13. The company has a current ratio of 6.03, a quick 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 $12.48.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Large investors have recently bought and sold shares of the business. Creative Planning raised its stake in Archer Aviation by 74.1% during the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after acquiring an additional 12,278 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Archer Aviation by 13.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock valued at $115,000 after purchasing an additional 4,505 shares during the last quarter. Vestor Capital LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at approximately $61,000. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the 3rd quarter worth approximately $26,000. Finally, Intellectus Partners LLC lifted its stake in Archer Aviation by 1.3% in the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock valued at $2,790,000 after purchasing an additional 11,800 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ACHR shares. Canaccord Genuity Group lifted their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald lifted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.61.

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.