Archer Aviation (NYSE:ACHR) Shares Down 1.1% - Should You Sell?

Key Points

• Archer Aviation's stock dropped 1.1% to $9.26, with trading volume significantly down by 78% compared to the average daily volume.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Archer Aviation, with price targets ranging from $10.00 to $18.00.
• The company reported a loss of ($0.36) EPS for the quarter, which was below analyst expectations, while insiders have sold a total of 283,964 shares in the last 90 days.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was down 1.1% on Tuesday . The company traded as low as $9.20 and last traded at $9.26. Approximately 7,103,819 shares were traded during trading, a decline of 78% from the average daily volume of 32,641,795 shares. The stock had previously closed at $9.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ACHR shares. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Needham & Company LLC reiterated a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $13.43.

Archer Aviation Stock Down 2.6%

The firm has a 50 day moving average price of $10.32 and a 200-day moving average price of $9.39. The firm has a market cap of $5.78 billion, a PE ratio of -6.64 and a beta of 3.08. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 95,896 shares of Archer Aviation stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $10.60, for a total transaction of $1,016,497.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Priya Gupta sold 10,224 shares of Archer Aviation 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 directly owned 147,153 shares in the company, valued at approximately $1,446,513.99. This trade represents a 6.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 283,964 shares of company stock worth $2,865,206. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ACHR. Price T Rowe Associates Inc. MD increased its holdings in shares of Archer Aviation by 28.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 132,191 shares of the company's stock valued at $1,289,000 after purchasing an additional 29,424 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $121,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $99,000. Quarry LP purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $51,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Archer Aviation by 18.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 138,563 shares of the company's stock valued at $1,351,000 after buying an additional 21,502 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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.