Eric Lentell Sells 50,004 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 50,004 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the sale, the general counsel now directly owns 45,416 shares of the company’s stock, valued at $319,728.64. This represents a 52.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, March 4th, Eric Lentell sold 43,230 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00.

Archer Aviation Trading Up 3.6 %

Shares of NYSE:ACHR opened at $7.21 on Thursday. The company has a 50-day simple moving average of $8.61 and a 200 day simple moving average of $6.95. The company has a market capitalization of $3.91 billion, a P/E ratio of -5.46 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. Archer Aviation Inc. has a 52-week low of $2.82 and a 52-week high of $12.48.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter worth about $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the 4th quarter valued at about $29,000. Harbour Investments Inc. lifted its position in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC grew its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald boosted their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two equities research 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 target price 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.