Archer Aviation (NYSE:ACHR) Stock Price Down 1.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded down 1.9% during trading on Wednesday . The stock traded as low as $4.81 and last traded at $4.8350. Approximately 19,125,023 shares were traded during trading, a decline of 50% from the average session volume of 38,258,113 shares. The stock had previously closed at $4.93.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Stock Down 2.4%

The firm has a 50-day moving average of $5.74 and a two-hundred day moving average of $6.50. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of -4.30 and a beta of 3.19. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last released its earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 9,860 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares in the company, valued at $1,124,847.50. This represents a 4.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of Archer Aviation stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $286,605.55. Following the sale, the insider directly owned 141,084 shares of the company’s stock, valued at $839,449.80. This trade represents a 25.45% decrease in their position. 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. Insiders have sold a total of 250,743 shares of company stock worth $1,497,672 in the last 90 days. 5.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after purchasing an additional 1,220 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Archer Aviation by 11.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. Meridian Investment Counsel Inc. increased its holdings in Archer Aviation by 3.4% in the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock worth $331,000 after buying an additional 1,440 shares during the last quarter. Choreo LLC raised its position in Archer Aviation by 8.1% during the fourth quarter. Choreo LLC now owns 20,802 shares of the company’s stock valued at $157,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.