Archer Aviation (NYSE:ACHR) Shares Down 3.2% on Insider Selling

Key Points

• Archer Aviation's stock price dropped by 3.2% after several insiders, including the CTO and CFO, sold shares, impacting trading volume significantly.
• Despite the recent insider selling, several analysts have reaffirmed their bullish outlook on Archer Aviation, with price targets ranging from $10.00 to $18.00.
• The company's latest earnings report showed a loss of ($0.36) EPS, missing estimates, while institutional investors own about 59.34% of the company's stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price traded down 3.2% during trading on Wednesday following insider selling activity. The company traded as low as $8.86 and last traded at $9.00. 10,772,738 shares were traded during trading, a decline of 67% from the average session volume of 32,950,352 shares. The stock had previously closed at $9.29.

Specifically, CTO Thomas Paul Muniz sold 86,133 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 $846,687.39. Following the transaction, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. The trade was a 6.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Priya Gupta sold 10,224 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 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 other Archer Aviation 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 transaction, the insider owned 47,518 shares of the company's stock, valued at $467,101.94. The trade was a 50.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. upped their target price on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Archer Aviation has a consensus rating of "Moderate Buy" and a consensus price target of $13.43.

Archer Aviation Trading Up 3.0%

The company has a quick ratio of 22.30, a current ratio of 22.30 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.23 billion, a P/E ratio of -7.15 and a beta of 3.08. The firm has a 50 day moving average of $10.42 and a 200-day moving average of $9.39.

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

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP boosted its stake in shares of Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company's stock valued at $25,000 after buying an additional 1,664 shares during the period. Sunbelt Securities Inc. bought a new stake in Archer Aviation during the fourth quarter worth $27,000. Strs Ohio bought a new stake in Archer Aviation during the first quarter worth $27,000. Tidemark LLC lifted its stake in Archer Aviation by 100.0% during the first quarter. Tidemark LLC now owns 4,000 shares of the company's stock worth $28,000 after purchasing an additional 2,000 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake 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 last quarter. 59.34% of the stock is currently owned by institutional investors.

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.