Archer Aviation (NYSE:ACHR) Trading Down 4.7% - Should You Sell?

Key Points

• Archer Aviation's stock dropped 4.7% on Tuesday, trading at approximately $11.41, with a notable increase in trading volume.
• The company reported a quarterly EPS of ($0.36), missing expectations, and it has an average rating of "Moderate Buy" from analysts.
• Several brokers, including Canaccord Genuity and UBS Group, have maintained a "buy" rating, while Weiss Ratings issued a "sell" rating with concerns about the company's performance.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was down 4.7% on Tuesday . The stock traded as low as $11.33 and last traded at $11.41. Approximately 45,704,013 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 36,257,281 shares. The stock had previously closed at $11.98.

Analyst Upgrades and Downgrades

Several brokerages have commented on ACHR. Canaccord Genuity Group reaffirmed a "buy" rating on shares of Archer Aviation in a research report on Thursday, July 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Thursday, July 17th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Thursday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Archer Aviation currently has an average rating of "Moderate Buy" and a consensus target price of $13.43.

Archer Aviation Stock Down 4.7%

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 company has a market cap of $7.36 billion, a P/E ratio of -8.45 and a beta of 3.06. The business's 50 day moving average is $10.02 and its 200 day moving average is $9.90.

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 the consensus estimate of ($0.24) by ($0.12). As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Eric Lentell sold 48,936 shares of the business'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 $481,040.88. Following the transaction, the insider directly owned 47,518 shares in the company, valued at $467,101.94. The trade was a 50.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 42,775 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 $420,478.25. Following the transaction, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. This represents a 12.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,068 shares of company stock valued at $1,848,708 over the last three months. Company insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Archer Aviation in the 1st quarter valued at approximately $176,000. Janney Montgomery Scott LLC grew its stake in Archer Aviation by 64.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,681 shares of the company's stock valued at $581,000 after purchasing an additional 31,933 shares during the last quarter. ORG Partners LLC purchased a new position in shares of Archer Aviation in the first quarter worth about $32,000. PFG Investments LLC raised its position in Archer Aviation by 10.7% during the 1st quarter. PFG Investments LLC now owns 25,271 shares of the company's stock worth $180,000 after buying an additional 2,450 shares during the last quarter. Finally, Palumbo Wealth Management LLC boosted its holdings in Archer Aviation by 53.0% in the first quarter. Palumbo Wealth Management LLC now owns 82,480 shares of the company's stock valued at $586,000 after purchasing an additional 28,583 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.

About Archer Aviation

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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