Shares of Archer Aviation (ACHR) fell 8.94% in yesterday’s trading, closing at $9.88, after a new SEC filing revealed a significant insider stock sale by the company’s General Counsel, Eric Lentell.
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According to the Form 4 filing, Lentell sold 95,896 shares of Class A common stock on June 30 at $10.60 per share. The sale was executed under a Rule 10b5-1 trading plan that was adopted on March 31, 2025. The filing also stated the transaction was carried out for tax and estate planning purposes. As of the filing date, Lentell holds no remaining shares and has no active trading plan in place.
Surprising Timing
While the sale was pre-arranged and legal under SEC guidelines, investors often react with caution to insider selling, especially when the transaction size is large. The timing also drew attention, as it followed a sharp rally in ACHR shares over the past few months, supported by strong liquidity updates and progress toward the commercial launch of eVTOL aircraft.
The fact that the insider now holds zero shares may have amplified market concerns. Without an active 10b5-1 plan in place, some investors may worry about future discretionary selling or shifts in executive sentiment, even if the transaction was explained as personal.
Despite the market reaction, there is no indication that the sale was tied to any change in Archer’s business fundamentals. The company recently raised $850 million, bringing its total liquidity to about $2 billion, and continues to work toward piloted flight testing and regulatory certification.
The stock experienced a modest recovery in pre-market trading today, rising to $10.06 (as of this writing). Still, the insider sale highlights how sensitive the market can be to executive moves, especially for pre-revenue companies in early-growth sectors, such as eVTOL. Investors will likely continue to monitor insider activity closely and company updates as the second half of the year unfolds.
Is Archer Aviation Stock a Good Buy?
Archer Aviation scores a Moderate Buy rating based on 6 analysts. The average ACHR stock price target is $11.75, implying an 18.93% upside.
