Archer Aviation (NYSE:ACHR) Shares Down 7.7% - What's Next?

Key Points

• Shares down 7.7% — Archer traded as low as $6.86 and last at $6.895 on heavy volume (70.3M shares, +78% vs. average); the stock trades well below its 50- and 200-day moving averages (~$10.22) and has a market cap of ~$4.49B with a negative P/E.
• Analyst sentiment is mixed but tilted positive: seven Buys, one Hold and one Sell give an average rating of "Moderate Buy" and an average price target of $12.57, although JPMorgan recently cut its target to $8 and set a "neutral" rating.
• Insider selling has increased recently — CFO Priya Gupta and insider Tosha Perkins sold shares on Nov. 17, and insiders disposed of 182,635 shares (~$1.37M) over the last quarter while still owning 7.65% of the company.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded down 7.7% during mid-day trading on Thursday . The company traded as low as $6.86 and last traded at $6.8950. 70,323,166 shares were traded during mid-day trading, an increase of 78% from the average session volume of 39,594,277 shares. The stock had previously closed at $7.47.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Archer Aviation from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, November 7th. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 12th. Canaccord Genuity Group reduced their target price on Archer Aviation from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald set a $13.00 price target on Archer Aviation in a report on Monday, November 10th. Seven investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $12.57.

Archer Aviation Trading Down 7.7%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The business has a fifty day simple moving average of $10.22 and a 200 day simple moving average of $10.21. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of -5.47 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). As a group, research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 45,018 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the sale, the insider directly owned 334,632 shares in the company, valued at $2,506,393.68. This represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 182,635 shares of company stock worth $1,367,936 over the last quarter. Company insiders own 7.65% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACHR. Strs Ohio acquired a new stake in shares of Archer Aviation during the 1st quarter worth $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. AlphaQuest LLC lifted its position in Archer Aviation by 1,181.6% during 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 during the period. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation during the third quarter worth about $29,000. Finally, Bank of Jackson Hole Trust increased its holdings in Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock valued at $30,000 after buying an additional 986 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.

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