Archer Aviation (NYSE:ACHR) Stock Price Down 5.3% - What's Next?

Key Points

• Shares of Archer Aviation Inc. (NYSE: ACHR) fell by 5.3%, trading between $11.08 and $11.24, with a significant volume increase of 57% compared to the average.
• Analyst ratings remain mixed with seven firms issuing a Buy rating, while the average price target is set at $13.43, despite a recent earnings miss.
• Insider trading activity revealed significant share sales by executives, with a combined total of 188,068 shares sold over the last 90 days.

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) were down 5.3% during mid-day trading on Friday . The stock traded as low as $11.08 and last traded at $11.24. Approximately 56,335,196 shares traded hands during trading, an increase of 57% from the average daily volume of 35,996,051 shares. The stock had previously closed at $11.87.

Analyst Ratings Changes

A number of research firms have recently commented on ACHR. UBS Group reissued a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Archer Aviation from $9.00 to $10.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. 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, Cantor Fitzgerald restated an "overweight" 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Stock Performance

The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $7.25 billion, a PE ratio of -8.33 and a beta of 3.06. The firm's 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $9.79.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data 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). On average, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 86,133 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares of the company's stock, valued at $13,049,020.27. This trade represents a 6.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction on Monday, August 18th. The shares were 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 of the company's stock, valued at $467,101.94. This trade represents a 50.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,068 shares of company stock worth $1,848,708. Corporate insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its stake in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock valued at $28,000 after purchasing an additional 2,375 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock valued at $32,000 after purchasing an additional 2,024 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock valued at $36,000 after purchasing an additional 1,702 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter valued at $33,000. Finally, Farther Finance Advisors LLC lifted its stake in shares of Archer Aviation by 45.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company's stock valued at $38,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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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