Eric Lentell Sells 114,788 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 114,788 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $6.74, for a total value of $773,671.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Archer Aviation Price Performance

Shares of Archer Aviation stock traded up $0.70 on Thursday, hitting $7.66. 57,176,637 shares of the company traded hands, compared to its average volume of 10,944,718. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business has a 50-day simple moving average of $4.22 and a 200 day simple moving average of $3.88. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $9.84. The stock has a market capitalization of $3.26 billion, a P/E ratio of -6.09 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the company earned ($0.19) earnings per share. Research analysts expect that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after purchasing an additional 3,000 shares during the last quarter. Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after buying an additional 3,033 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock valued at $44,000 after acquiring an additional 3,339 shares during the last quarter. Hsbc Holdings PLC grew its position in Archer Aviation by 14.8% in the second quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after acquiring an additional 3,341 shares in the last quarter. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ACHR shares. Needham & Company LLC assumed coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 target price for the company. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. HC Wainwright assumed coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

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.