Archer Aviation (NYSE:ACHR) Stock Falls 3.1% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded down 3.1% on Wednesday. The stock traded as low as $3.82 and last traded at $3.8550. Approximately 20,451,056 shares were traded during mid-day trading, a decline of 42% from the average session volume of 35,358,828 shares. The stock had previously closed at $3.98.

Analyst Ratings Changes

A number of equities analysts have issued reports on ACHR shares. HC Wainwright restated a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Thursday, October 15th. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Archer Aviation Trading Down 3.1%

The firm has a market capitalization of $2.97 billion, a PE ratio of -3.57 and a beta of 3.27. The firm’s fifty day moving average is $5.42 and its two-hundred day moving average is $5.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). The business had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, equities analysts predict that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total value of $631,000.00. Following the transaction, the insider 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, the chief financial officer directly owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 176,657 shares of company stock valued at $1,122,371. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Caitong International Asset Management Co. Ltd lifted its holdings in Archer Aviation by 979.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock worth $32,000 after buying an additional 3,888 shares during the period. GAMMA Investing LLC raised its holdings in Archer Aviation by 189.3% in the third quarter. GAMMA Investing LLC now owns 6,272 shares of the company’s stock worth $31,000 after buying an additional 4,104 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Archer Aviation by 59.4% during the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after purchasing an additional 3,275 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Archer Aviation by 157.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock worth $47,000 after purchasing an additional 5,832 shares during the last quarter. Finally, Bouvel Investment Partners LLC purchased a new position in Archer Aviation in the third quarter worth about $50,000. 59.34% of the stock is currently owned by institutional investors.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company’s primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.