Archer Aviation Inc. (NYSE:ACHR - Get Free Report) General Counsel Eric Lentell sold 43,230 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares of the company's stock, valued at $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Eric Lentell also recently made the following trade(s):
- On Wednesday, December 4th, Eric Lentell sold 114,788 shares of Archer Aviation stock. The shares were sold at an average price of $6.74, for a total transaction of $773,671.12.
Archer Aviation Price Performance
Shares of Archer Aviation stock opened at $7.98 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -6.04 and a beta of 3.13. The business has a 50 day simple moving average of $9.56 and a two-hundred day simple moving average of $6.31. Archer Aviation Inc. has a 12 month low of $2.82 and a 12 month high of $12.48. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Institutional Trading of Archer Aviation
Several large investors have recently bought and sold shares of ACHR. ARK Investment Management LLC boosted its holdings in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after purchasing an additional 6,371,647 shares during the last quarter. Vanguard Group Inc. grew its holdings in Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company's stock valued at $160,682,000 after buying an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC grew its holdings in Archer Aviation by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company's stock valued at $56,908,000 after buying an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company's stock worth $48,748,000 after acquiring an additional 3,064,280 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Archer Aviation during the 4th quarter worth $42,709,000. Hedge funds and other institutional investors own 59.34% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on ACHR. Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and raised their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC upped their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Canaccord Genuity Group increased their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, HC Wainwright restated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.
Check Out Our Latest Stock Analysis on ACHR
About Archer Aviation
(
Get Free Report)
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.
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