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

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 43,230 shares of the business’s 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 sale, the general counsel now owns 53,225 shares of the company’s stock, valued at $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

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

Archer Aviation Trading Up 1.2 %

ACHR traded up $0.10 during mid-day trading on Tuesday, hitting $7.98. 29,942,203 shares of the stock were exchanged, compared to its average volume of 33,566,488. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.39 billion, a PE ratio of -6.04 and a beta of 3.13. The firm’s fifty day moving average is $9.56 and its two-hundred day moving average is $6.31. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $12.48.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC raised its position in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Archer Aviation by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after acquiring an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after acquiring an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Archer Aviation by 158.3% during the 4th 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 in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Archer Aviation during the 4th quarter worth about $42,709,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Canaccord Genuity Group upped their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday. 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 report on Friday. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on 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.