Archer Aviation (NYSE:ACHR) Shares Down 1.1% - Time to Sell?

Key Points

• Archer Aviation's shares fell by 1.1% to $8.42, with trading volume down 80% compared to its average, indicating reduced investor interest.
• There is a consensus rating of "Moderate Buy" among analysts for Archer Aviation, with a price target averaging $13.43, despite the company posting an EPS miss of ($0.36).
• Insider selling activity was noted, including two executives who sold a total of 128,908 shares, reflecting a decrease in their ownership stakes, signaling potential concerns within the company.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares dropped 1.1% during mid-day trading on Tuesday . The company traded as low as $8.36 and last traded at $8.42. Approximately 6,402,932 shares traded hands during trading, a decline of 80% from the average daily volume of 32,019,211 shares. The stock had previously closed at $8.51.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of analyst reports. 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. JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Stock Performance

The firm has a market capitalization of $5.44 billion, a PE ratio of -6.24 and a beta of 3.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The company's fifty day simple moving average is $10.10 and its 200 day simple moving average is $9.32.

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 the consensus estimate of ($0.24) by ($0.12). As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, insider Tosha Perkins sold 42,775 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 value of $420,478.25. Following the sale, the insider directly owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 86,133 shares of the company'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 transaction of $846,687.39. Following the sale, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,964 shares of company stock valued at $2,865,206 in the last three months. 7.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Allworth Financial LP raised its stake in 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 purchasing an additional 1,664 shares in the last quarter. Sunbelt Securities Inc. purchased a new stake in Archer Aviation in the fourth quarter valued at approximately $27,000. Strs Ohio purchased a new stake in Archer Aviation in the first quarter valued at approximately $27,000. Tidemark LLC raised its stake in 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 purchasing an additional 2,000 shares in the last quarter. Finally, AlphaQuest LLC raised its stake in 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 purchasing an additional 2,375 shares in the last quarter. 59.34% of the stock is 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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