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

Key Points

• Archer Aviation has been reaffirmed a "sell (D-)" rating by Weiss Ratings, despite several other analysts issuing "buy" ratings with a consensus price target of $13.43.
• The stock price recently traded at $11.33, reflecting a 3.8% increase during trading hours, with a market capitalization of $7.31 billion.
• Insider activity includes significant share sales by CTO Thomas Paul Muniz and CFO Priya Gupta, who sold shares valued at nearly $950,000 combined.

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

ACHR has been the subject of several other reports. Canaccord Genuity Group reissued a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. HC Wainwright reiterated a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. UBS Group restated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Up 3.8%

NYSE:ACHR traded up $0.42 during trading hours on Friday, hitting $11.33. The company had a trading volume of 31,996,037 shares, compared to its average volume of 36,403,930. The company has a market capitalization of $7.31 billion, a PE ratio of -8.41 and a beta of 3.06. The stock has a 50-day moving average price of $10.08 and a 200 day moving average price of $9.95. Archer Aviation has a 52 week low of $3.05 and a 52 week high of $14.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30.

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

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the transaction, the chief technology officer directly owned 1,327,469 shares of the company's stock, valued at approximately $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Priya Gupta sold 10,224 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the completion of the transaction, the chief financial officer directly owned 147,153 shares of the company's stock, valued at $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,068 shares of company stock valued at $1,848,708. Insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Allworth Financial LP increased its position in shares of Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares in the last quarter. Strs Ohio purchased a new stake in shares of Archer Aviation in the first quarter valued at approximately $27,000. Tidemark LLC increased its position in shares of Archer Aviation by 100.0% in the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock valued at $28,000 after buying an additional 2,000 shares in the last quarter. AlphaQuest LLC increased its position in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock valued at $28,000 after buying an additional 2,375 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Archer Aviation in the first quarter valued at approximately $31,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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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