Archer Aviation (NYSE:ACHR) Stock Falls 5% – Time to Sell?

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group restated an “overweight” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Friday, July 17th. Barclays raised shares of Archer Aviation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $4.50 to $8.00 in a report on Friday. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research report on Tuesday, August 11th. Finally, Wells Fargo & Company set a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Archer Aviation Trading Down 5.0%

The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06. The company has a market cap of $3.43 billion, a price-to-earnings ratio of -4.12 and a beta of 3.27. The firm has a 50-day moving average price of $5.61 and a 200 day moving average price of $5.56.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting 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, sell-side analysts forecast that Archer Aviation Inc. will post -1.37 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,015 shares of the business’s stock in a transaction 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 owned 202,784 shares in the company, valued at $1,299,845.44. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 176,657 shares of company stock worth $1,122,371 over the last 90 days. Insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of ACHR. Caitong International Asset Management Co. Ltd lifted its holdings in Archer Aviation by 979.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock worth $32,000 after acquiring an additional 3,888 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 4,104 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 48.9% during the fourth quarter. Anchor Investment Management LLC now owns 7,809 shares of the company’s stock valued at $59,000 after purchasing an additional 2,565 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Archer Aviation by 59.4% during the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock valued at $45,000 after purchasing an additional 3,275 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Archer Aviation by 157.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock valued at $47,000 after purchasing an additional 5,832 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Archer Aviation

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.