Eric Lentell Sells 50,004 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) General Counsel Eric Lentell sold 50,004 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the sale, the general counsel now directly owns 45,416 shares of the company’s stock, valued at approximately $319,728.64. The trade was a 52.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, March 4th, Eric Lentell sold 43,230 shares of Archer Aviation stock. The stock was sold at an average price of $7.70, for a total value of $332,871.00.

Archer Aviation Price Performance

ACHR opened at $7.21 on Thursday. The company has a fifty day moving average price of $8.61 and a two-hundred day moving average price of $6.95. The firm has a market capitalization of $3.91 billion, a PE ratio of -5.46 and a beta of 3.14. Archer Aviation Inc. has a 52 week low of $2.82 and a 52 week high of $12.48. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Institutional Trading of Archer Aviation

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC bought a new stake in Archer Aviation in the third quarter valued at approximately $206,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after buying an additional 94,430 shares during the period. Townsquare Capital LLC raised its stake in Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock worth $45,000 after buying an additional 3,033 shares during the period. CreativeOne Wealth LLC lifted its holdings in Archer Aviation by 99.0% during the third quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company’s stock worth $292,000 after acquiring an additional 47,975 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Archer Aviation by 15.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company’s stock valued at $186,000 after acquiring an additional 8,431 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Raymond James boosted their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Needham & Company LLC lifted their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Cantor Fitzgerald increased their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

About Archer Aviation

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.