Archer Aviation (NYSE:ACHR) Shares Down 3.2% - Here's What Happened

Key Points

• Archer Aviation shares fell 3.2% to $6.41 on Monday, with trading volume of about 29.7 million shares—23% below the average session volume.
• Analyst sentiment remains mixed: Archer has an average rating of “Hold” and a consensus price target of $11.50, with five Buy, three Hold, and one Sell rating.
• The company reported a quarterly loss of $0.34 per share, in line with estimates, while revenue of $5.0 million exceeded the $1.94 million consensus forecast; institutional investors own 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price dropped 3.2% during trading on Monday . The company traded as low as $6.32 and last traded at $6.41. Approximately 29,748,952 shares traded hands during trading, a decline of 23% from the average session volume of 38,540,023 shares. The stock had previously closed at $6.62.

Analyst Ratings Changes

ACHR has been the subject of several research reports. Barclays upgraded shares of Archer Aviation to a "hold" rating in a research report on Wednesday, July 29th. UBS Group reissued an "overweight" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a report on Friday, July 17th. Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company set a $18.00 price objective on Archer Aviation in a report on Tuesday, August 11th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of "Hold" and a consensus price target of $11.50.

Archer Aviation Stock Down 3.2%

The business has a fifty day moving average of $5.20 and a 200 day moving average of $5.93. The company has a quick ratio of 10.21, a current ratio of 10.21 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.94 billion, a P/E ratio of -5.94 and a beta of 3.20.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.34). The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. On average, equities research analysts predict that Archer Aviation Inc. will post -1.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Seven Grand Managers LLC bought a new position in Archer Aviation during the 4th quarter worth about $22,560,000. Norges Bank bought a new stake in shares of Archer Aviation in the fourth quarter valued at about $58,494,000. California State Teachers Retirement System lifted its holdings in shares of Archer Aviation by 21.0% in the first quarter. California State Teachers Retirement System now owns 716,066 shares of the company's stock valued at $3,702,000 after purchasing an additional 124,052 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company's stock worth $411,165,000 after buying an additional 2,312,899 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Archer Aviation by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 14,385,647 shares of the company's stock worth $108,197,000 after buying an additional 1,867,648 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

About Archer Aviation

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.

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