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

Key Points

• Archer Aviation Inc. shares gapped down from a previous close of $13.64 to open at $13.11, with the stock currently trading at $13.21.
• Analysts have mixed ratings on Archer Aviation; seven analysts rate it as a "Buy," while one has a "Sell" rating, and the average price target is set at $13.43.
• The company reported a quarterly loss of ($0.36) EPS, missing analysts' expectations and indicating a projected total earnings per share of -1.32 for the current fiscal year.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $13.64, but opened at $13.11. Archer Aviation shares last traded at $13.21, with a volume of 32,326,231 shares.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ACHR. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. Needham & Company LLC reissued a "buy" rating and set a $13.00 target price on shares of Archer Aviation in a research note on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research report on Saturday, September 27th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Stock Down 3.8%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 22.30 and a current ratio of 22.30. The company has a market cap of $8.46 billion, a price-to-earnings ratio of -9.70 and a beta of 3.06. The business has a 50-day simple moving average of $9.55 and a 200-day simple moving average of $9.56.

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 analysts' consensus estimates of ($0.24) by ($0.12). On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares in the company, valued at approximately $13,049,020.27. This represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Priya Gupta sold 10,224 shares of the firm'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 value of $100,501.92. Following the transaction, the chief financial officer owned 147,153 shares in the company, valued at $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 quarter, insiders have sold 188,068 shares of company stock worth $1,848,708. Insiders own 7.65% of the company's stock.

Institutional Trading of Archer Aviation

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock worth $38,000 after acquiring an additional 1,106 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Archer Aviation by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company's stock valued at $1,837,000 after buying an additional 1,211 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Archer Aviation by 23.7% during the second quarter. GPS Wealth Strategies Group LLC now owns 6,614 shares of the company's stock worth $72,000 after purchasing an additional 1,269 shares during the last quarter. Purus Wealth Management LLC raised its holdings in Archer Aviation by 9.9% during the second quarter. Purus Wealth Management LLC now owns 14,865 shares of the company's stock worth $161,000 after purchasing an additional 1,340 shares during the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in Archer Aviation by 8.7% during the first quarter. Kestra Private Wealth Services LLC now owns 17,018 shares of the company's stock worth $121,000 after buying an additional 1,358 shares in the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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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