Archer Aviation Inc. (NYSE:ACHR – Get Free Report) insider Eric Lentell sold 3,754 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $5.00, for a total value of $18,770.00. Following the sale, the insider directly owned 137,330 shares of the company’s stock, valued at approximately $686,650. This represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Eric Lentell also recently made the following trade(s):
- On Monday, May 18th, Eric Lentell sold 48,169 shares of Archer Aviation stock. The shares were sold at an average price of $5.95, for a total value of $286,605.55.
- On Friday, May 15th, Eric Lentell sold 39,967 shares of Archer Aviation stock. The shares were sold at an average price of $6.06, for a total value of $242,200.02.
Archer Aviation Stock Up 8.8%
ACHR opened at $5.53 on Tuesday. The business has a 50 day moving average price of $5.98 and a two-hundred day moving average price of $6.88. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $4.20 billion, a PE ratio of -5.02 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $4.80 and a 52 week high of $14.62.
Hedge Funds Weigh In On Archer Aviation
A number of large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its stake in shares of Archer Aviation by 59.4% during the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock worth $45,000 after buying an additional 3,275 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in shares of Archer Aviation during the 1st quarter worth approximately $168,000. Western Wealth Management LLC raised its stake in shares of Archer Aviation by 22.0% during the 1st quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock worth $119,000 after buying an additional 4,144 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Archer Aviation by 33.2% during the 1st quarter. Bank of America Corp DE now owns 2,136,942 shares of the company’s stock worth $11,048,000 after buying an additional 532,762 shares in the last quarter. Finally, Amundi raised its stake in shares of Archer Aviation by 134.9% during the 1st quarter. Amundi now owns 71,397 shares of the company’s stock worth $369,000 after buying an additional 41,008 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts have commented on ACHR shares. Needham & Company LLC reduced their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Finally, Canaccord Genuity Group cut their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.83.
Check Out Our Latest Analysis on ACHR
Archer Aviation Company Profile
Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.
Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.
Featured Articles
- Five stocks we like better than Archer Aviation
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.
