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

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 2% during mid-day trading on Tuesday . The company traded as low as $6.52 and last traded at $6.7350. Approximately 62,883,924 shares traded hands during mid-day 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 Analysts Forecast Growth

ACHR has been the topic of a number of analyst reports. Canaccord Genuity Group decreased their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Needham & Company LLC decreased their price objective on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Stock Down 3.2%

The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $5.94 and its 200 day simple moving average is $6.99. The firm has a market capitalization of $4.96 billion, a PE ratio of -5.93 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the previous year, the business earned ($0.17) EPS. Analysts anticipate that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 10,949 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $68,650.23. Following the completion of the sale, the insider directly owned 384,768 shares in the company, valued at $2,412,495.36. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Lentell sold 48,169 shares of the firm’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 $286,605.55. Following the completion of the sale, the insider owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents 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 sold a total of 282,840 shares of company stock valued at $1,703,688 over the last ninety days. 7.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently bought and sold shares of ACHR. AQR Capital Management LLC bought a new stake in Archer Aviation during the first quarter worth about $293,000. Integrated Wealth Concepts LLC boosted its stake in Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 worth $1,366,000 after acquiring an additional 59,317 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Archer Aviation by 5.1% during the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after acquiring an additional 1,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Archer Aviation by 51.1% during 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 acquiring an additional 285,414 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

About Archer Aviation

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.