Archer Aviation (NYSE:ACHR) Stock Falls 3.2% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) was down 3.2% on Tuesday. The company traded as low as $5.02 and last traded at $5.0350. Approximately 18,997,870 shares were traded during mid-day trading, a decline of 48% from the average session volume of 36,333,918 shares. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reaffirmed a “buy” rating 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Archer Aviation has an average rating of “Hold” and a consensus price target of $11.50.

Archer Aviation Trading Down 3.2%

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 business’s 50-day simple moving average is $5.62 and its two-hundred day simple moving average is $5.65. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -4.66 and a beta of 3.23.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). The business had revenue of $5.00 million during the quarter, compared to analysts’ expectations of $1.94 million. On average, research analysts anticipate that Archer Aviation Inc. will post -1.37 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 100,000 shares of the firm’s stock in a transaction dated 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 directly owned 85,011 shares in the company, valued at $536,419.41. This trade represents a 54.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $64,196.15. Following 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 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 three months, insiders have sold 176,657 shares of company stock valued at $1,122,371. Corporate insiders own 5.55% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Archer Aviation by 14.9% during the 4th quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company’s stock valued at $108,197,000 after acquiring an additional 1,867,648 shares during the last quarter. Amova Asset Management Americas Inc. grew its stake in Archer Aviation by 21.7% in the fourth quarter. Amova Asset Management Americas Inc. now owns 7,914,191 shares of the company’s stock worth $59,515,000 after purchasing an additional 1,413,774 shares in the last quarter. Norges Bank bought a new stake in Archer Aviation in the fourth quarter valued at about $58,494,000. BNP Paribas Financial Markets increased its holdings in Archer Aviation by 423.3% in the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after buying an additional 4,146,574 shares during the last quarter. Finally, Alpine Global Management LLC grew its position in shares of Archer Aviation by 104.7% in the 4th quarter. Alpine Global Management LLC now owns 4,677,145 shares of the company’s stock worth $35,172,000 after acquiring an additional 2,392,026 shares in the last quarter. 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 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.