Archer Aviation (NYSE:ACHR) Trading Down 1.4% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 1.4% on Wednesday . The stock traded as low as $5.32 and last traded at $5.3650. 47,371,336 shares were traded during trading, an increase of 23% from the average daily volume of 38,472,453 shares. The stock had previously closed at $5.44.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Needham & Company LLC decreased their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. 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. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Trading Up 0.1%

The stock’s 50 day moving average price is $5.98 and its 200-day moving average price is $6.84. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $4.23 billion, a PE ratio of -5.07 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter last year, the firm earned ($0.17) EPS. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 91,839 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the transaction, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the transaction, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their position. 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. Insiders sold 250,743 shares of company stock valued at $1,497,672 in the last ninety days. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its holdings in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after buying an additional 1,702 shares in the last quarter. Gould Capital LLC grew its stake in Archer Aviation by 238.1% during the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in 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 valued at $28,000 after acquiring an additional 3,335 shares in the last quarter. Strs Ohio bought a new stake in Archer Aviation in the 1st quarter valued at $27,000. Finally, Modus Advisors LLC bought a new stake in Archer Aviation in the 4th quarter valued at $29,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Company Profile

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.