Archer Aviation (NYSE:ACHR) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Archer Aviation's stock received a "sell (D-)" rating from Weiss Ratings, highlighting concerns over its performance.
• Despite the negative outlook from Weiss, the overall analyst consensus remains supportive with a rating of "Moderate Buy" and a price target of $13.43.
• The company recently reported a quarterly earnings loss of ($0.36) EPS, missing analysts' expectations and reflecting ongoing financial challenges.

Archer Aviation (NYSE:ACHR - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

ACHR has been the subject of a number of other reports. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Canaccord Genuity Group restated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Trading Down 3.5%

Shares of ACHR stock traded down $0.43 on Wednesday, reaching $12.05. 48,905,983 shares of the stock were exchanged, compared to its average volume of 34,640,367. The stock has a market cap of $7.77 billion, a P/E ratio of -8.94 and a beta of 3.06. The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $9.59 and a two-hundred day moving average of $9.58. Archer Aviation has a 1-year low of $2.85 and a 1-year high of $13.92.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). On average, research analysts anticipate that Archer Aviation will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. This trade represents a 6.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Lentell sold 48,936 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $481,040.88. Following the transaction, the insider directly owned 47,518 shares in the company, valued at $467,101.94. The trade was a 50.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently bought and sold shares of ACHR. New York State Common Retirement Fund increased its stake in shares of Archer Aviation by 47.6% in the first quarter. New York State Common Retirement Fund now owns 100,087 shares of the company's stock valued at $712,000 after purchasing an additional 32,300 shares during the period. Private Advisor Group LLC increased its stake in shares of Archer Aviation by 429.6% in the first quarter. Private Advisor Group LLC now owns 272,072 shares of the company's stock valued at $1,934,000 after purchasing an additional 220,696 shares during the period. Virtu Financial LLC increased its stake in shares of Archer Aviation by 704.2% in the first quarter. Virtu Financial LLC now owns 359,555 shares of the company's stock valued at $2,556,000 after purchasing an additional 314,844 shares during the period. Swiss National Bank increased its stake in shares of Archer Aviation by 42.4% in the first quarter. Swiss National Bank now owns 728,900 shares of the company's stock valued at $5,182,000 after purchasing an additional 217,200 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Archer Aviation by 64.2% in the first quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock valued at $581,000 after purchasing an additional 31,933 shares during the period. Institutional investors own 59.34% of the company's stock.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.

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