Archer Aviation (NYSE:ACHR) Stock Price Down 1.6% - Should You Sell?

Key Points

• Archer Aviation's stock fell 1.6% during trading, closing at $9.52 after reaching a low of $9.35. The trading volume was significantly lower than average, at 5.7 million shares compared to a daily average of 32.7 million shares.
• Despite the recent downturn, several analysts have maintained a "buy" rating for Archer Aviation, with price targets ranging from $10.00 to $18.00, resulting in an average target price of $13.43.
• Insider selling occurred with notable transactions, including a sale of 42,775 shares by Tosha Perkins, which reduced their holdings by 12.65%, while CFO Priya Gupta also sold shares, indicating potential concerns among insiders.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares were down 1.6% on Monday . The company traded as low as $9.35 and last traded at $9.52. Approximately 5,746,031 shares traded hands during trading, a decline of 82% from the average daily volume of 32,734,832 shares. The stock had previously closed at $9.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACHR shares. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Down 2.6%

The firm has a market capitalization of $5.78 billion, a P/E ratio of -6.64 and a beta of 3.08. 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 business has a 50-day moving average price of $10.34 and a 200-day moving average price of $9.39.

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

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 86,133 shares of the business's stock in a transaction 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 sale, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 shares of the business's stock in a transaction 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 sale, the chief financial officer directly owned 147,153 shares in the company, valued at approximately $1,446,513.99. This represents a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,964 shares of company stock valued at $2,865,206. Company insiders own 7.65% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. AlphaQuest LLC boosted 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 worth $28,000 after purchasing an additional 2,375 shares in the last quarter. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during the fourth quarter valued at $27,000. GAMMA Investing LLC lifted its stake in shares of Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock valued at $32,000 after acquiring an additional 2,024 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock valued at $36,000 after acquiring an additional 1,702 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after acquiring an additional 1,106 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

Archer Aviation Company Profile

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.