Archer Aviation (NYSE:ACHR) Trading Down 1.2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ACHR shares. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 target price on Archer Aviation in a research note on Tuesday, August 11th. Barclays raised Archer Aviation to a “hold” rating in a research report on Wednesday, July 29th. UBS Group reiterated an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Canaccord Genuity Group lowered their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.50.

Check Out Our Latest Research Report on Archer Aviation

Archer Aviation Price Performance

The company has a market cap of $4.54 billion, a PE ratio of -5.45 and a beta of 3.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a 50 day moving average of $5.32 and a 200-day moving average of $5.87.

Archer Aviation (NYSE:ACHRGet Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). The firm had revenue of $5.00 million for the quarter, compared to analyst estimates of $1.94 million. Equities analysts predict that Archer Aviation Inc. will post -1.37 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,015 shares of Archer Aviation 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 100,000 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the sale, the insider owned 85,011 shares in the company, valued at $536,419.41. The trade was a 54.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In 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.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of ACHR. California State Teachers Retirement System boosted its stake in shares of Archer Aviation by 382.3% in the second quarter. California State Teachers Retirement System now owns 3,453,695 shares of the company’s stock worth $16,336,000 after buying an additional 2,737,629 shares during the last quarter. Hopwood Nicholas Hunter purchased a new position in Archer Aviation during the second quarter valued at approximately $175,000. Odyssean LLC raised its position in Archer Aviation by 707.0% during the second quarter. Odyssean LLC now owns 260,940 shares of the company’s stock valued at $1,234,000 after acquiring an additional 228,606 shares in the last quarter. AXQ Capital LP lifted its holdings in Archer Aviation by 78.0% in the second quarter. AXQ Capital LP now owns 143,693 shares of the company’s stock valued at $680,000 after acquiring an additional 62,949 shares during the period. Finally, Nykredit A S acquired a new position in Archer Aviation in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Archer Aviation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Archer Aviation and related companies with MarketBeat.com's FREE daily email newsletter.