Archer Aviation (NYSE:ACHR) Stock Price Down 2.5% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) fell 2.5% during trading on Wednesday . The company traded as low as $5.13 and last traded at $5.1770. 23,551,285 shares were traded during trading, a decline of 37% from the average session volume of 37,451,301 shares. The stock had previously closed at $5.31.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ACHR shares. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group cut their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Archer Aviation presently has an average rating of “Hold” and an average target price of $11.83.

Archer Aviation Stock Up 6.9%

The firm has a 50 day moving average of $5.21 and a 200-day moving average of $6.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The stock has a market capitalization of $4.25 billion, a P/E ratio of -5.08 and a beta of 3.20.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same period in the prior year, the company earned ($0.17) EPS. On average, equities research analysts expect that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider directly owned 141,084 shares in the company, valued at approximately $839,449.80. The trade was a 25.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 250,743 shares of company stock worth $1,497,672. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently modified their holdings of ACHR. Norges Bank bought a new stake in Archer Aviation in the fourth quarter valued at $58,494,000. Man Group plc lifted its holdings in shares of Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after acquiring an additional 4,182,400 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Archer Aviation by 423.3% in the 4th quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after purchasing an additional 4,146,574 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of Archer Aviation by 12.4% in the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after purchasing an additional 3,869,252 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Archer Aviation by 11.2% in the 4th quarter. State Street Corp now owns 32,773,136 shares of the company’s stock worth $246,454,000 after purchasing an additional 3,293,130 shares during the last quarter. 59.34% of the stock is currently owned by 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.