Key Points
- Insider sale: Eric Lentell sold 100,000 Archer Aviation shares at an average price of $6.31, generating $631,000. The Rule 10b5-1 transaction reduced his direct ownership by 54.05% to 85,011 shares.
- Stock and financial performance: ACHR opened at $6.32, with a market capitalization of approximately $4.87 billion. Archer reported quarterly revenue of $5 million and an adjusted loss of $0.34 per share, matching analyst expectations.
- Analyst outlook: Analysts have an average “Hold” rating and an average price target of $11.50, with five Buy, three Hold and one Sell rating. Price targets range from $12 to $18 among recent coverage.
Archer Aviation Inc. (NYSE:ACHR - Get Free Report) insider Eric Lentell sold 100,000 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the transaction, the insider directly owned 85,011 shares of the company's stock, valued at $536,419.41. This represents a 54.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $338,204.42.
- On Thursday, June 11th, Eric Lentell sold 3,754 shares of Archer Aviation stock. The shares were sold at an average price of $5.00, for a total value of $18,770.00.
Archer Aviation Stock Performance
NYSE ACHR opened at $6.32 on Friday. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of -5.85 and a beta of 3.20. The business's 50 day moving average is $5.30 and its two-hundred day moving average is $5.89. Archer Aviation Inc. has a 12-month low of $4.30 and a 12-month high of $14.62. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.
Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $1.94 million. Research analysts expect that Archer Aviation Inc. will post -1.4 EPS for the current year.
Institutional Trading of Archer Aviation
Several large investors have recently bought and sold shares of ACHR. Geneos Wealth Management Inc. increased its position in 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 purchasing an additional 1,702 shares in the last quarter. Gould Capital LLC grew its holdings in shares of Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company's stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company's stock worth $28,000 after buying an additional 3,335 shares in the last quarter. Strs Ohio acquired a new position in shares of Archer Aviation in the first quarter valued at approximately $27,000. Finally, Modus Advisors LLC purchased a new position in shares of Archer Aviation during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 59.34% of the company's stock.
Analyst Upgrades and Downgrades
ACHR has been the subject of a number of recent analyst reports. Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 12th. HC Wainwright reiterated a "buy" rating on shares of Archer Aviation in a report on Tuesday, August 11th. UBS Group reiterated an "overweight" rating on shares of Archer Aviation in a report on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a research note on Friday, July 17th. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $11.50.
Read Our Latest Analysis on Archer Aviation
Archer Aviation Company Profile
(
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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