Archer Aviation (NYSE:ACHR) Stock Price Down 5.6% - Time to Sell?

Key Points

• Archer Aviation's stock price declined by 5.6% to $11.95, with increased trading volume of 46.57 million shares compared to the average of 35 million shares.
• Equities analysts generally maintain a positive outlook, with seven ratings being a "Buy" and a consensus price target of $13.43, though Weiss Ratings issued a "sell" rating.
• Recent insider selling included notable transactions by the CTO and CFO, who sold shares for a total value of $947,189, reflecting decreases in their ownership positions.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price traded down 5.6% during trading on Friday . The company traded as low as $11.68 and last traded at $11.95. 46,574,622 shares traded hands during trading, an increase of 33% from the average session volume of 35,004,938 shares. The stock had previously closed at $12.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reiterated a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday. 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. Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Trading Down 5.6%

The firm has a market cap of $7.71 billion, a price-to-earnings ratio of -8.85 and a beta of 3.06. 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 firm's fifty day moving average is $9.69 and its 200-day moving average is $9.63.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced 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). Equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 86,133 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the sale, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Priya Gupta sold 10,224 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.83, for a total transaction of $100,501.92. Following the completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This represents a 6.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. AlphaQuest LLC grew its position in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after purchasing an additional 2,375 shares in the last quarter. GAMMA Investing LLC grew its position in Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after purchasing an additional 2,024 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Archer Aviation by 105.3% in the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company's stock worth $36,000 after purchasing an additional 1,702 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Archer Aviation in the 3rd quarter worth about $33,000. Finally, Farther Finance Advisors LLC grew its position in Archer Aviation by 45.7% in the 2nd 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. 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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