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

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays upgraded Archer Aviation from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $4.50 to $8.00 in a report on Friday, October 9th. Needham & Company LLC reissued a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a research report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Thursday, October 15th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Archer Aviation Trading Down 3.1%

The business has a 50 day moving average price of $5.42 and a 200 day moving average price of $5.52. 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 company has a market capitalization of $2.97 billion, a P/E ratio of -3.57 and a beta of 3.27.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 analyst estimates of $1.94 million. Analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, insider Eric Lentell sold 100,000 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the sale, the insider directly owned 85,011 shares of the company’s stock, valued at approximately $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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the sale, the chief financial officer directly owned 202,784 shares in the company, valued at approximately $1,299,845.44. The trade was a 4.71% decrease in their ownership of the stock. 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 have sold 176,657 shares of company stock worth $1,122,371. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 valued at $32,000 after purchasing an additional 3,888 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Archer Aviation by 189.3% during 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 period. Parallel Advisors LLC increased its position 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 worth $45,000 after buying an additional 3,275 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Archer Aviation by 157.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock worth $47,000 after buying an additional 5,832 shares during the last quarter. Finally, Bouvel Investment Partners LLC bought a new position in Archer Aviation during the third quarter worth $50,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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 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.