Key Points
- Archer Aviation insider Eric Lentell sold 3,754 shares on June 11 at an average price of $5.00, totaling $18,770. The sale was disclosed in an SEC filing and was made to cover tax withholding obligations tied to vested equity awards.
- Lentell has also sold larger blocks of Archer stock recently, including 48,169 shares on May 18 and 39,967 shares on May 15. After the latest transaction, he still directly owned 137,330 shares.
- Archer Aviation missed earnings expectations in its latest quarterly report, posting a loss of $0.28 per share versus estimates of $0.25, while revenue came in slightly below forecasts. Analysts currently rate the stock a Moderate Buy with a consensus target price of $11.83.
Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Eric Lentell sold 3,754 shares of the firm'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 completion of the transaction, the insider directly owned 137,330 shares of the company's stock, valued at $686,650. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 Performance
NYSE ACHR opened at $5.53 on Tuesday. Archer Aviation Inc. has a 1-year low of $4.80 and a 1-year high of $14.62. The company has a market capitalization of $4.20 billion, a P/E ratio of -5.02 and a beta of 3.14. The business has a 50 day moving average price of $5.98 and a 200 day moving average price of $6.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analysts' expectations of $1.66 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Sell-side analysts expect that Archer Aviation Inc. will post -1.47 EPS for the current fiscal year.
Institutional Investors Weigh In On Archer Aviation
A number of large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company's stock valued at $140,000 after buying an additional 1,220 shares during the last quarter. Clear Creek Financial Management LLC boosted its holdings in shares of Archer Aviation by 2.9% during the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company's stock worth $422,000 after purchasing an additional 1,254 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of Archer Aviation by 8.2% during the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 16,702 shares of the company's stock worth $160,000 after purchasing an additional 1,268 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock worth $98,000 after purchasing an additional 1,373 shares during the last quarter. Finally, Meridian Investment Counsel Inc. boosted its holdings in shares of Archer Aviation by 3.4% during the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company's stock worth $331,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ACHR. Canaccord Genuity Group lowered their target price on Archer Aviation from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Needham & Company LLC lowered their target price on Archer Aviation from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a report on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.83.
View Our Latest Analysis on Archer Aviation
About Archer Aviation
(
Get Free Report)
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.
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