Archer Aviation (NYSE:ACHR) Shares Down 2.3% - Time to Sell?

Key Points

• Archer Aviation shares fell 2.3% to about $4.84, trading below both its 50-day ($5.43) and 200-day ($6.23) moving averages. Trading volume was 39% below the average session volume.
• Analysts maintain a mixed outlook: four rate the stock Buy, two Hold and one Sell, producing an overall “Hold” rating and an $11.83 consensus price target. Canaccord Genuity lowered its target to $12, while Weiss Ratings reiterated a “sell” rating.
• The company missed quarterly expectations, reporting a loss of $0.28 per share versus the expected $0.25 loss and revenue of $1.60 million versus $1.66 million expected. Insiders sold $1.5 million worth of shares over the past 90 days, although institutional investors own 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price traded down 2.3% on Tuesday . The stock traded as low as $4.66 and last traded at $4.8350. 23,027,434 shares were traded during mid-day trading, a decline of 39% from the average session volume of 37,818,441 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ACHR shares. Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a report on Friday, July 17th. Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of "Hold" and a consensus target price of $11.83.

Archer Aviation Price Performance

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The company's fifty day moving average is $5.43 and its two-hundred day moving average is $6.23. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -4.40 and a beta of 3.19.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the firm posted ($0.17) earnings per share. As a group, research analysts predict that Archer Aviation Inc. will post -1.4 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, CAO Harsh Rungta sold 12,414 shares of the firm's 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 directly owned 87,210 shares in the company, valued at $518,899.50. This trade represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $546,442.05. Following the sale, the chief technology officer owned 1,462,314 shares in the company, valued at $8,700,768.30. This trade represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 in the last 90 days. Insiders own 5.55% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in Archer Aviation in the 1st quarter valued at approximately $293,000. Integrated Wealth Concepts LLC increased its position in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company's stock worth $98,000 after acquiring an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Archer Aviation by 44.7% in 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 acquiring an additional 59,317 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company's stock valued at $254,000 after acquiring an additional 1,738 shares in 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 valued at $6,001,000 after purchasing an additional 285,414 shares during the period. 59.34% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.