Archer Aviation (NYSE:ACHR) Trading Down 9% - Time to Sell?

Key Points

• Archer Aviation Inc. shares fell by 9% from a previous close of $13.03 to $11.86, with a notable 137% increase in trading volume.
• Equities research analysts have mixed ratings for Archer with a consensus of "Moderate Buy" and price targets ranging from $10.00 to $13.43.
• Insider trading includes significant stock sales by the CFO and another insider, with a total of 188,068 shares sold in the past 90 days.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares were down 9% on Thursday . The company traded as low as $11.82 and last traded at $11.86. Approximately 85,100,372 shares were traded during trading, an increase of 137% from the average daily volume of 35,889,781 shares. The stock had previously closed at $13.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ACHR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Archer Aviation in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Archer Aviation from $9.00 to $10.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price target on shares of Archer Aviation in a report on Tuesday, August 12th. UBS Group reaffirmed a "buy" rating on shares of Archer Aviation in a report on Thursday, July 17th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Archer Aviation in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.43.

Archer Aviation Stock Down 9.0%

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 cap of $7.65 billion, a price-to-earnings ratio of -8.79 and a beta of 3.06. The stock's 50 day moving average is $9.90 and its 200 day moving average is $9.76.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.12). Analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of Archer Aviation stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $100,501.92. Following the transaction, the chief financial officer owned 147,153 shares in the company, valued at approximately $1,446,513.99. The trade was a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation 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 completion of the transaction, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. This trade represents a 50.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HBK Sorce Advisory LLC acquired a new position in Archer Aviation in the third quarter worth approximately $116,000. Collar Capital Management LLC grew its position in Archer Aviation by 0.6% during the 3rd quarter. Collar Capital Management LLC now owns 283,340 shares of the company's stock worth $2,714,000 after purchasing an additional 1,650 shares in the last quarter. CWM LLC grew its position in Archer Aviation by 39.8% during the 3rd quarter. CWM LLC now owns 20,937 shares of the company's stock worth $201,000 after purchasing an additional 5,956 shares in the last quarter. Farther Finance Advisors LLC grew its position in Archer Aviation by 394.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 17,439 shares of the company's stock worth $167,000 after purchasing an additional 13,915 shares in the last quarter. Finally, Alpha Wealth Funds LLC purchased a new position in Archer Aviation during the 3rd quarter worth approximately $94,000. 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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