Archer Aviation (NYSE:ACHR) Stock Price Down 7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 7% during trading on Wednesday . The stock traded as low as $4.47 and last traded at $4.4850. Approximately 25,620,223 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 37,762,836 shares. The stock had previously closed at $4.82.

Analyst Ratings Changes

A number of equities research analysts have commented on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.83.

Archer Aviation Trading Down 7.0%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 18.06 and a current ratio of 18.06. The company has a market capitalization of $3.41 billion, a PE ratio of -4.08 and a beta of 3.19. The stock has a fifty day moving average of $5.41 and a 200 day moving average of $6.21.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 91,839 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider directly owned 141,084 shares of the company’s stock, valued at approximately $839,449.80. The trade was a 25.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 250,743 shares of company stock valued at $1,497,672 over the last three months. Corporate insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Handelsbanken Fonder AB grew its holdings in shares of Archer Aviation by 41.5% in the second quarter. Handelsbanken Fonder AB now owns 227,400 shares of the company’s stock valued at $1,076,000 after purchasing an additional 66,700 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in Archer Aviation by 22.9% during the second quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after purchasing an additional 2,447 shares during the last quarter. Focus Financial Network Inc. lifted its position in Archer Aviation by 20.0% during the second quarter. Focus Financial Network Inc. now owns 16,890 shares of the company’s stock valued at $80,000 after purchasing an additional 2,820 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Archer Aviation by 97.6% in the 2nd quarter. CoreCap Advisors LLC now owns 13,706 shares of the company’s stock worth $65,000 after buying an additional 6,771 shares in the last quarter. Finally, Western Wealth Management LLC grew its stake in shares of Archer Aviation by 22.0% in the 1st quarter. Western Wealth Management LLC now owns 22,962 shares of the company’s stock worth $119,000 after buying an additional 4,144 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

Archer Aviation Company Profile

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.