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

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) General Counsel Eric Lentell sold 50,004 shares of the 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 completion of the transaction, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This trade represents a 52.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $332,871.00.

Archer Aviation Price Performance

NYSE ACHR traded down $0.28 during trading hours on Thursday, reaching $6.92. The company's stock had a trading volume of 18,804,687 shares, compared to its average volume of 19,614,890. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $12.48. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -5.25 and a beta of 3.14. The firm's 50-day moving average price is $8.61 and its 200-day moving average price is $6.95.

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Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC increased its holdings in shares of Archer Aviation by 6.7% in the fourth quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock worth $156,000 after purchasing an additional 1,000 shares during the last quarter. Harbour Investments Inc. increased its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after acquiring an additional 1,095 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after acquiring an additional 1,246 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after purchasing an additional 1,299 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC lifted their price objective on Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $11.61.

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.