Archer Aviation (NYSE:ACHR) Stock Price Down 5.4% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) was down 5.4% during mid-day trading on Wednesday . The company traded as low as $5.50 and last traded at $5.5150. 22,021,043 shares were traded during mid-day trading, a decline of 41% from the average session volume of 37,237,090 shares. The stock had previously closed at $5.83.

Analyst Ratings Changes

Several research analysts recently commented on ACHR shares. Needham & Company LLC restated a “buy” rating and set a $9.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays raised shares of Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Five research 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’s stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Hold” and an average target price of $11.50.

Archer Aviation Trading Up 2.3%

The business’s 50 day simple moving average is $5.47 and its 200 day simple moving average is $5.76. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of -5.15 and a beta of 3.23. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. On average, research analysts expect that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CFO Priya Gupta sold 10,015 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the sale, the chief financial officer owned 202,784 shares in the company, valued at $1,299,845.44. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 13,880 shares of the firm’s 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 completion of the sale, the chief accounting officer directly owned 110,847 shares of the company’s stock, valued at approximately $710,529.27. The trade was a 11.13% 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. Insiders have sold a total of 176,657 shares of company stock valued at $1,122,371 over the last 90 days. 5.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC raised its position in Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares during the last quarter. Geneos Wealth Management Inc. increased its stake 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 valued at $36,000 after buying an additional 1,702 shares during the period. NewEdge Advisors LLC increased its position in Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after acquiring an additional 1,738 shares during the period. Axxcess Wealth Management LLC raised its position in Archer Aviation by 9.3% during the 4th quarter. Axxcess Wealth Management LLC now owns 20,917 shares of the company’s stock worth $157,000 after purchasing an additional 1,776 shares during the last quarter. Finally, WCG Wealth Advisors LLC raised its position in shares of Archer Aviation by 5.7% during the fourth quarter. WCG Wealth Advisors LLC now owns 33,459 shares of the company’s stock worth $252,000 after acquiring an additional 1,802 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to transport passengers over short distances using distributed electric propulsion, with the goal of providing quieter and potentially faster alternatives to traditional ground transportation in congested urban areas.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft intended for commercial air taxi operations.