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

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 1.9% 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 daily volume of 38,258,113 shares. The stock had previously closed at $4.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ACHR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group reduced their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Five 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Trading Down 1.9%

The firm has a market capitalization of $3.67 billion, a PE ratio of -4.40 and a beta of 3.19. The firm has a 50 day simple moving average of $5.78 and a 200 day simple moving average of $6.55. The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last posted its quarterly 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 firm had revenue of $1.60 million during the quarter, compared to analysts’ expectations of $1.66 million. During the same period in the prior year, the company earned ($0.17) EPS. Equities analysts expect that Archer Aviation Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 91,839 shares of Archer Aviation 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 $546,442.05. Following the completion of the sale, the chief technology officer directly owned 1,462,314 shares in the company, valued at $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $5.95, for a total transaction of $58,667.00. Following the completion of the sale, the chief financial officer owned 189,050 shares of the company’s stock, valued at $1,124,847.50. This represents a 4.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 in the last 90 days. Corporate insiders own 5.55% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gould Capital LLC raised its stake in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the last quarter. Strs Ohio purchased a new position in shares of Archer Aviation in the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring an additional 3,335 shares during the period. Modus Advisors LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $29,000. Finally, Basepoint Wealth LLC purchased a new stake in Archer Aviation during the fourth quarter valued at $32,000. 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.