Archer Aviation (NYSE:ACHR) Trading Down 4% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) shares were down 4% during trading on Tuesday . The stock traded as low as $5.48 and last traded at $5.55. Approximately 20,014,947 shares traded hands during trading, a decline of 47% from the average daily volume of 37,798,484 shares. The stock had previously closed at $5.78.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACHR shares. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price target on Archer Aviation in a research note on Tuesday, August 11th. Canaccord Genuity Group cut their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.50.

Archer Aviation Stock Performance

The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $5.35 and a 200-day moving average of $5.83. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -5.14 and a beta of 3.20.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $1.94 million. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CAO Harsh Rungta sold 13,880 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $88,970.80. Following the transaction, the chief accounting officer owned 110,847 shares in the company, valued at approximately $710,529.27. This represents a 11.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 180,411 shares of company stock worth $1,141,141 over the last three months. 5.55% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Several large investors have recently made changes to their positions in ACHR. Geneos Wealth Management Inc. boosted its holdings in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares during the last quarter. Gould Capital LLC raised its stake in shares of Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after buying an additional 3,335 shares during the last quarter. Strs Ohio acquired a new position in shares of Archer Aviation in the 1st quarter valued at about $27,000. Finally, Modus Advisors LLC acquired a new position in shares of Archer Aviation in the 4th quarter valued at about $29,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

About Archer Aviation

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.