Archer Aviation (NYSE:ACHR) Trading Down 1.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 1.9% during trading on Wednesday . The stock traded as low as $4.81 and last traded at $4.8350. Approximately 19,125,023 shares changed hands during trading, a decline of 50% from the average session volume of 38,258,113 shares. The stock had previously closed at $4.93.

Analyst Ratings Changes

Several research firms have weighed in on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group decreased their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Price Performance

The stock has a market cap of $3.67 billion, a PE ratio of -4.40 and a beta of 3.19. The business has a fifty day simple moving average of $5.78 and a two-hundred day simple moving average of $6.55. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same period in the previous year, the firm posted ($0.17) EPS. Research analysts forecast that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 48,169 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. The trade was a 25.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $73,863.30. Following the completion of the transaction, the chief accounting officer owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. The trade was a 12.46% 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 sold 250,743 shares of company stock worth $1,497,672. Corporate insiders own 5.55% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in shares of Archer Aviation in the 1st quarter worth approximately $293,000. Integrated Wealth Concepts LLC increased its position in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 valued at $1,366,000 after buying an additional 59,317 shares during the last quarter. NewEdge Advisors LLC raised 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 valued at $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in 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 acquiring an additional 285,414 shares in the last quarter. 59.34% of the stock is currently 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.