Archer Aviation (NYSE:ACHR) Stock Price Down 3.2% After Analyst Downgrade

Key Points

• Share drop on analyst action: Archer shares fell about 3.2% after Canaccord trimmed its price target to $12 (retaining a buy), with the stock trading as low as $8.31 on a surge to 95.15M shares—well above average—and now sitting below its ~50/200‑day moving averages near $10.25.
• Insider selling: Insiders sold 188,068 shares in the last quarter (notably Eric Lentell and Tosha Perkins), leaving insiders with 7.65% ownership, which could be viewed as selling pressure from insiders.
• Analyst consensus and fundamentals: Seven analysts rate the stock a Buy (average target $12.57) despite negative fundamentals—recent quarterly EPS was ($0.20), analysts forecast a -1.32 EPS for the year, and the company has a market cap of ~$5.58B.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) fell 3.2% during trading on Wednesday after Canaccord Genuity Group lowered their price target on the stock from $13.00 to $12.00. Canaccord Genuity Group currently has a buy rating on the stock. Archer Aviation traded as low as $8.31 and last traded at $8.6550. 95,147,033 shares were traded during trading, an increase of 146% from the average session volume of 38,659,441 shares. The stock had previously closed at $8.94.

ACHR has been the subject of a number of other reports. Cantor Fitzgerald set a $13.00 price objective on shares of Archer Aviation in a report on Monday. Needham & Company LLC cut their price objective on Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, November 7th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Archer Aviation from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and an average target price of $12.57.

Insider Transactions at Archer Aviation

In other news, insider Eric Lentell sold 48,936 shares of the business'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 transaction of $481,040.88. Following the sale, the insider directly owned 47,518 shares in the company, valued at approximately $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Tosha Perkins sold 42,775 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider owned 295,337 shares of the company's stock, valued at approximately $2,903,162.71. This represents a 12.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Jackson Hole Trust boosted its stake in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock worth $30,000 after acquiring an additional 986 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Archer Aviation by 45.7% during the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock worth $38,000 after purchasing an additional 1,106 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company's stock valued at $443,000 after buying an additional 1,107 shares during the period. Moody National Bank Trust Division increased its position 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 in the last quarter. Finally, HighPoint Advisor Group LLC raised its stake in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company's stock worth $344,000 after buying an additional 1,237 shares during the period. Institutional investors own 59.34% of the company's stock.

Archer Aviation Price Performance

The company has a 50 day moving average of $10.29 and a 200 day moving average of $10.25. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of -6.87 and a beta of 3.07.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

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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