Archer Aviation (NYSE:ACHR) Trading Down 1.2% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 1.2% during trading on Wednesday . The company traded as low as $5.86 and last traded at $5.89. 20,491,349 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 38,142,961 shares. The stock had previously closed at $5.96.

Analyst Ratings Changes

ACHR has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Barclays raised Archer Aviation to a “hold” rating in a research note on Wednesday, July 29th. HC Wainwright restated a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. UBS Group restated an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Archer Aviation has a consensus rating of “Hold” and an average price target of $11.50.

Archer Aviation Stock Up 0.8%

The stock’s fifty day moving average is $5.34 and its 200 day moving average is $5.85. 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 $4.58 billion, a P/E ratio of -5.50 and a beta of 3.20.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analysts’ expectations of $1.94 million. Research analysts predict that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CAO Harsh Rungta sold 13,880 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the transaction, the chief accounting officer owned 110,847 shares in the company, valued at $710,529.27. The trade was a 11.13% decrease in their position. The sale was disclosed in a document filed 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, CFO Priya Gupta sold 10,015 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total value of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares in the company, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 180,411 shares of company stock worth $1,141,141. Company insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its stake in shares of Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after buying an additional 1,220 shares during the period. Integrated Wealth Concepts LLC boosted its holdings 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 acquiring an additional 1,373 shares in the last quarter. 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 acquiring an additional 1,702 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Archer Aviation by 5.1% in the first 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 in the last quarter. Finally, Burr Financial Services LLC increased its position in Archer Aviation by 4.5% during the 4th quarter. Burr Financial Services LLC now owns 40,555 shares of the company’s stock valued at $305,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.