Archer Aviation (NYSE:ACHR) Shares Down 1.1% - Time to Sell?

Key Points

• Archer Aviation shares fell 1.1% to about $4.00, with trading volume 54% below the average session level. The stock remains well below its 50-day and 200-day moving averages of roughly $5.48 and $5.53.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an $11.00 price target. Six analysts rate the stock a Buy, two recommend Hold, and one recommends Sell.
• Archer met quarterly EPS expectations at a loss of $0.34 per share and reported $5 million in revenue, exceeding the $1.94 million consensus estimate. Insiders have sold 176,657 shares worth about $1.12 million over the past three months, while institutions own 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price fell 1.1% on Tuesday. The company traded as low as $3.96 and last traded at $3.9950. 16,355,441 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 35,439,480 shares. The stock had previously closed at $4.04.

Analysts Set New Price Targets

ACHR has been the subject of a number of research analyst reports. UBS Group reaffirmed an "overweight" rating on shares of Archer Aviation in a report on Tuesday, August 11th. Wells Fargo & Company set a $18.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. Needham & Company LLC restated a "buy" rating and issued a $9.00 price objective on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Archer Aviation Stock Down 1.1%

The company has a debt-to-equity ratio of 0.06, a current ratio of 10.21 and a quick ratio of 10.21. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of -3.70 and a beta of 3.27. The firm has a 50 day moving average price of $5.48 and a 200-day moving average price of $5.53.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $1.94 million. As a group, equities analysts predict that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, insider Eric Lentell sold 100,000 shares of Archer Aviation stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $6.31, for a total transaction of $631,000.00. Following the completion of the sale, the insider owned 85,011 shares in the company, valued at $536,419.41. The trade was a 54.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Harsh Rungta sold 13,880 shares of the business's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the sale, the chief accounting officer directly owned 110,847 shares of the company's stock, valued at approximately $710,529.27. This trade represents a 11.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 176,657 shares of company stock worth $1,122,371. Company insiders own 5.55% of the company's stock.

Hedge Funds Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of Archer Aviation by 703.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,514,300 shares of the company's stock valued at $12,999,000 after acquiring an additional 2,201,300 shares during the period. Bank of New York Mellon Corp acquired a new position in Archer Aviation during the second quarter valued at approximately $10,190,000. Bank of America Corp DE grew its holdings in Archer Aviation by 33.2% during the first quarter. Bank of America Corp DE now owns 2,136,942 shares of the company's stock valued at $11,048,000 after purchasing an additional 532,762 shares during the period. Swiss National Bank increased its stake in Archer Aviation by 0.4% in the first quarter. Swiss National Bank now owns 1,221,700 shares of the company's stock valued at $6,316,000 after purchasing an additional 4,400 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Archer Aviation by 8.3% in the first quarter. Cetera Investment Advisers now owns 792,532 shares of the company's stock worth $4,097,000 after purchasing an additional 60,449 shares during the period. 59.34% of the stock is owned by institutional investors.

Archer Aviation Company Profile

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its aircraft are designed to operate like helicopters for takeoff and landing while using distributed electric propulsion for quieter, lower-emission regional transportation.

The company's primary aircraft program is Midnight, a piloted, four-passenger eVTOL aircraft intended for short urban and regional trips. Archer has also developed Maker, a technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.

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