Archer Aviation (NYSE:ACHR) Sets New 1-Year Low – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price hit a new 52-week low during trading on Tuesday. The company traded as low as $3.96 and last traded at $4.1030, with a volume of 2,594,492 shares. The stock had previously closed at $4.04.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $9.00 price objective on shares of Archer Aviation in a report on Tuesday, August 11th. HC Wainwright reissued a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Tuesday, August 11th. Barclays raised shares of Archer Aviation from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $4.50 to $8.00 in a research report on Friday, October 9th. Finally, Wells Fargo & Company set a $18.00 price target on Archer Aviation in a report on Tuesday, August 11th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Archer Aviation Stock Down 0.4%

The firm’s 50 day moving average price is $5.48 and its two-hundred day moving average price is $5.53. The company has a market cap of $3.10 billion, a P/E ratio of -3.73 and a beta of 3.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 10.21 and a current ratio of 10.21.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Monday, August 10th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $1.94 million. Equities research analysts anticipate that Archer Aviation Inc. will post -1.37 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CAO Harsh Rungta sold 13,880 shares of the company’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 transaction, the chief accounting officer directly owned 110,847 shares of the company’s stock, valued at approximately $710,529.27. This represents a 11.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.41, for a total value of $64,196.15. Following the completion of the transaction, the chief financial officer owned 202,784 shares in the company, valued at approximately $1,299,845.44. The trade was a 4.71% 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 176,657 shares of company stock valued at $1,122,371 in the last 90 days. 5.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC grew its holdings in shares of Archer Aviation by 22.9% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 13,126 shares of the company’s stock valued at $62,000 after purchasing an additional 2,447 shares during the last quarter. Focus Financial Network Inc. lifted its stake in Archer Aviation by 20.0% in the second quarter. Focus Financial Network Inc. now owns 16,890 shares of the company’s stock worth $80,000 after purchasing an additional 2,820 shares during the last quarter. Parallel Advisors LLC lifted its stake in Archer Aviation by 59.4% in the first quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock worth $45,000 after purchasing an additional 3,275 shares during the last quarter. International Assets Investment Management LLC boosted its position in Archer Aviation by 29.2% during the first quarter. International Assets Investment Management LLC now owns 17,168 shares of the company’s stock valued at $89,000 after buying an additional 3,883 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in Archer Aviation by 979.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock valued at $32,000 after buying an additional 3,888 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.