Archer Aviation Inc. (NYSE:ACHR – Get Free Report) insider Eric Lentell sold 100,000 shares of Archer Aviation stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the completion of the transaction, the insider directly owned 85,011 shares in the company, valued at $536,419.41. This represents a 54.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Eric Lentell also recently made the following trade(s):
- On Monday, August 17th, Eric Lentell sold 52,762 shares of Archer Aviation stock. The shares were sold at an average price of $6.41, for a total transaction of $338,204.42.
- On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The stock was sold at an average price of $5.00, for a total transaction of $18,770.00.
Archer Aviation Stock Performance
Shares of ACHR opened at $6.32 on Monday. The company has a 50-day moving average of $5.30 and a two-hundred day moving average of $5.88. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of -5.85 and a beta of 3.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. Archer Aviation Inc. has a one year low of $4.30 and a one year high of $14.62.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Farther Finance Advisors LLC grew its holdings in Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after purchasing an additional 1,220 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after buying an additional 1,373 shares during the last quarter. Choreo LLC boosted its holdings in shares of Archer Aviation by 8.1% during the 4th quarter. Choreo LLC now owns 20,802 shares of the company’s stock worth $157,000 after buying an additional 1,555 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after buying an additional 1,702 shares during the period. Finally, NewEdge Advisors LLC grew its stake in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after buying an additional 1,738 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on ACHR shares. Canaccord Genuity Group cut their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. UBS Group reissued an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $11.50.
Read Our Latest Stock Report 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 Stories
- Five stocks we like better than Archer Aviation
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
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.
