Archer Aviation (NYSE:ACHR) Shares Down 5% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded down 5% on Tuesday. The stock traded as low as $4.44 and last traded at $4.4550. 23,877,167 shares were traded during trading, a decline of 33% from the average session volume of 35,825,121 shares. The stock had previously closed at $4.69.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Friday, July 17th. UBS Group reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Barclays upgraded Archer Aviation from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $4.50 to $8.00 in a research note on Friday, October 9th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Archer Aviation Stock Performance

The company has a market cap of $3.29 billion, a price-to-earnings ratio of -3.96 and a beta of 3.27. The stock’s fifty day simple moving average is $5.57 and its 200 day simple moving average is $5.55. The company has a current ratio of 10.21, a quick 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 (EPS) 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. As a group, analysts anticipate that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 100,000 shares of the business’s 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 completion of the transaction, the insider owned 85,011 shares in the company, valued at $536,419.41. The trade was a 54.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 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 completion of the transaction, the chief financial officer owned 202,784 shares in the company, valued at approximately $1,299,845.44. The trade was 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. Insiders sold 176,657 shares of company stock worth $1,122,371 in the last three months. 5.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HBW Advisory Services LLC acquired a new position in Archer Aviation during the third quarter worth $59,000. Focus Financial Network Inc. increased its stake in shares of Archer Aviation by 21.6% during the 3rd quarter. Focus Financial Network Inc. now owns 20,540 shares of the company’s stock worth $102,000 after purchasing an additional 3,650 shares in the last quarter. Bouvel Investment Partners LLC acquired a new position in shares of Archer Aviation in the third quarter worth $50,000. Sax Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $82,000. Finally, GAMMA Investing LLC lifted its stake 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 valued at $31,000 after buying an additional 4,104 shares during the period. Institutional investors and hedge funds 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.