Archer Aviation (NYSE:ACHR) Stock Price Down 2.8% - What's Next?

Key Points

• Archer Aviation's stock price fell by 2.8%, closing at $9.73 after trading as low as $9.63, amid a spike in trading volume.
• Several analysts maintain a positive outlook on Archer with **seven analysts** rating the stock as "Buy" and a **consensus price target** of $13.43.
• Insider trading has recently seen notable activity, with two executives selling shares, resulting in a combined decrease in ownership of over **6%**.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price fell 2.8% during trading on Wednesday . The stock traded as low as $9.63 and last traded at $9.73. 43,178,575 shares changed hands during trading, an increase of 32% from the average session volume of 32,608,773 shares. The stock had previously closed at $10.00.

Analyst Ratings Changes

Several research firms have commented on ACHR. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and issued a $13.00 price target on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Stock Down 2.8%

The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The business has a 50 day simple moving average of $9.81 and a 200 day simple moving average of $9.39. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of -7.20 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). As a group, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $846,687.39. Following the transaction, the chief technology officer directly owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $9.83, for a total value of $420,478.25. Following the transaction, the insider owned 295,337 shares in the company, valued at $2,903,162.71. This trade represents a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,964 shares of company stock valued at $2,865,206 over the last three months. 7.65% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its position in shares of Archer Aviation by 106.4% during the fourth quarter. Ameriprise Financial Inc. now owns 45,902 shares of the company's stock worth $448,000 after purchasing an additional 23,661 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Archer Aviation during the fourth quarter worth about $2,877,000. Vident Advisory LLC acquired a new stake in shares of Archer Aviation during the fourth quarter worth about $186,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Archer Aviation by 62.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company's stock worth $5,446,000 after purchasing an additional 215,593 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation during the fourth quarter worth about $27,000. 59.34% of the stock is currently 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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