Archer Aviation (NYSE:ACHR) Stock Price Down 1.5% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded down 1.5% during trading on Wednesday. The company traded as low as $4.97 and last traded at $4.9850. Approximately 23,268,612 shares traded hands during trading, a decline of 36% from the average daily volume of 36,264,918 shares. The stock had previously closed at $5.06.

Analyst Ratings Changes

ACHR has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays upgraded shares of Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. Needham & Company LLC reiterated a “buy” rating and set a $9.00 price target on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Archer Aviation presently has an average rating of “Hold” and a consensus price target of $11.50.

Archer Aviation Trading Up 1.3%

The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. The company has a market cap of $3.88 billion, a PE ratio of -4.66 and a beta of 3.27. The company’s 50 day simple moving average is $5.61 and its two-hundred day simple moving average is $5.62.

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

Insider Buying and Selling

In other Archer Aviation news, CFO Priya Gupta sold 10,015 shares of Archer Aviation stock in a transaction dated Monday, August 17th. The stock was 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 of the company’s stock, valued at $1,299,845.44. The trade was a 4.71% decrease in their position. The sale 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 company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $88,970.80. Following the transaction, the chief accounting officer directly owned 110,847 shares of the company’s stock, valued at approximately $710,529.27. This represents a 11.13% 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 sold 176,657 shares of company stock worth $1,122,371. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently added to or reduced their stakes in the business. Gould Capital LLC increased its stake in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after purchasing an additional 2,507 shares during the last quarter. Modus Advisors LLC acquired a new stake in Archer Aviation during the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its stake in Archer Aviation by 979.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock worth $32,000 after acquiring an additional 3,888 shares in the last quarter. Anchor Investment Management LLC lifted its position in Archer Aviation by 48.9% in the fourth quarter. Anchor Investment Management LLC now owns 7,809 shares of the company’s stock valued at $59,000 after acquiring an additional 2,565 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Archer Aviation by 59.4% in the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after acquiring an additional 3,275 shares during the last quarter. Hedge funds and other 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 goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.