Archer Aviation (NYSE:ACHR) Shares Down 2% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price dropped 2% during trading on Tuesday . The stock traded as low as $6.52 and last traded at $6.7350. Approximately 62,883,924 shares were traded during trading, an increase of 20% from the average daily volume of 52,476,008 shares. The stock had previously closed at $6.8750.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ACHR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group dropped their target price on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, Needham & Company LLC dropped their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Stock Performance

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 business’s fifty day simple moving average is $5.91 and its 200-day simple moving average is $7.01. The company has a market capitalization of $5.12 billion, a P/E ratio of -6.12 and a beta of 3.14.

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 analysts’ consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 48,169 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the sale, the insider directly owned 141,084 shares in the company, valued at $839,449.80. The trade was a 25.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 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 transaction of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares in the company, valued at approximately $1,124,847.50. This trade represents a 4.96% 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. Over the last 90 days, insiders sold 502,739 shares of company stock worth $3,124,236. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. AQR Capital Management LLC purchased a new stake in Archer Aviation in the 1st quarter valued at about $293,000. Integrated Wealth Concepts LLC lifted its position in Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after acquiring an additional 1,373 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after acquiring an additional 59,317 shares during the last quarter. NewEdge Advisors LLC increased its stake in Archer Aviation by 5.1% during the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after purchasing an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after buying an additional 285,414 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other 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.