Insider Selling: Archer Aviation (NYSE:ACHR) Insider Sells 41,490 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) insider Eric Lentell sold 41,490 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $310,760.10. Following the transaction, the insider directly owned 83,733 shares in the company, valued at approximately $627,160.17. The trade was a 33.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Archer Aviation Stock Performance

Shares of NYSE ACHR traded up $0.17 during midday trading on Tuesday, reaching $7.59. The company had a trading volume of 57,693,906 shares, compared to its average volume of 69,731,488. The stock has a market cap of $4.94 billion, a P/E ratio of -6.02 and a beta of 3.07. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. Archer Aviation Inc. has a 1 year low of $4.33 and a 1 year high of $14.62. The business’s 50-day simple moving average is $10.23 and its 200 day simple moving average is $10.23.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACHR shares. JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Cantor Fitzgerald set a $13.00 target price on shares of Archer Aviation in a report on Monday, November 10th. Needham & Company LLC lowered their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Canaccord Genuity Group decreased their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $12.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC acquired a new stake in Archer Aviation in the 3rd quarter valued at $81,000. Camelot Portfolios LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at about $144,000. Kestra Private Wealth Services LLC increased its stake in shares of Archer Aviation by 14.6% during the third quarter. Kestra Private Wealth Services LLC now owns 30,483 shares of the company’s stock worth $292,000 after purchasing an additional 3,875 shares in the last quarter. Connective Capital Management LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth about $350,000. Finally, Dark Forest Capital Management LP raised its position in shares of Archer Aviation by 34.1% during the 3rd quarter. Dark Forest Capital Management LP now owns 30,712 shares of the company’s stock worth $294,000 after purchasing an additional 7,818 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.