Archer Aviation (NYSE:ACHR) Shares Down 4.7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 4.7% on Wednesday . The company traded as low as $5.12 and last traded at $5.2150. Approximately 27,844,396 shares were traded during trading, a decline of 25% from the average session volume of 36,899,523 shares. The stock had previously closed at $5.47.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACHR. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. Finally, Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a report on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.50.

Archer Aviation Stock Down 4.7%

The stock’s fifty day simple moving average is $5.50 and its 200-day simple moving average is $5.73. The stock has a market cap of $4.02 billion, a P/E ratio of -4.83 and a beta of 3.23. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21.

Archer Aviation (NYSE:ACHR) last issued its quarterly 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 company had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. As a group, research analysts forecast that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, insider Eric Lentell sold 100,000 shares of the stock in a transaction that occurred 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 owned 85,011 shares in the company, valued at approximately $536,419.41. This trade represents a 54.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Priya Gupta sold 10,015 shares of the business’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 transaction of $64,196.15. Following the transaction, the chief financial officer owned 202,784 shares of the company’s stock, valued at approximately $1,299,845.44. This represents a 4.71% decrease in their ownership of the stock. 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. Insiders sold a total of 176,657 shares of company stock valued at $1,122,371 over the last quarter. 5.55% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Large investors have recently bought and sold shares of the business. WINTON GROUP Ltd bought a new stake in Archer Aviation in the second quarter valued at approximately $144,000. Integrated Wealth Concepts LLC grew its holdings in Archer Aviation by 30.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 50,836 shares of the company’s stock worth $240,000 after acquiring an additional 11,801 shares during the period. Baird Financial Group Inc. boosted its position in shares of Archer Aviation by 2.6% during the 2nd quarter. Baird Financial Group Inc. now owns 237,064 shares of the company’s stock valued at $1,121,000 after purchasing an additional 6,100 shares in the last quarter. Arizona State Retirement System increased its holdings in Archer Aviation by 3.1% in the second quarter. Arizona State Retirement System now owns 174,624 shares of the company’s stock worth $826,000 after purchasing an additional 5,286 shares in the last quarter. Finally, Nykredit A S bought a new position in shares of Archer Aviation during the 2nd quarter worth approximately $73,000. 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 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.