Archer Aviation’s (ACHR) “Sell (D-)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of Archer Aviation (NYSE:ACHR) in a research report report published on Friday,Weiss Ratings reports.

Several other research analysts have also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $13.00 target price on shares of Archer Aviation in a report on Tuesday, August 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Thursday, July 17th. JPMorgan Chase & Co. increased their target price on shares of Archer Aviation from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. UBS Group reiterated a “buy” rating on shares of Archer Aviation in a research note on Thursday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Archer Aviation in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.43.

Archer Aviation Stock Performance

Shares of ACHR opened at $11.31 on Friday. Archer Aviation has a 12 month low of $3.05 and a 12 month high of $14.62. The firm has a fifty day simple moving average of $10.11 and a 200 day simple moving average of $10.02. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -8.38 and a beta of 3.06. The company has a current ratio of 22.30, a quick ratio of 22.30 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, August 11th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.12). Research analysts forecast that Archer Aviation will post -1.32 EPS for the current fiscal year.

Insider Activity

In other Archer Aviation news, CFO Priya Gupta sold 10,224 shares of the stock in a transaction 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 completion of the sale, the chief financial officer owned 147,153 shares in the company, valued at $1,446,513.99. This trade represents a 6.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tosha Perkins sold 42,775 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the completion of the transaction, the insider directly owned 295,337 shares in the company, valued at $2,903,162.71. The trade was a 12.65% decrease in their ownership of the stock. 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 insiders.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently modified their holdings of the stock. AlphaQuest LLC raised its position in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares during the period. GAMMA Investing LLC raised its position in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after purchasing an additional 2,024 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares during the period. Sound Income Strategies LLC bought a new position in shares of Archer Aviation in the third quarter valued at about $33,000. Finally, Farther Finance Advisors LLC raised its position in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after purchasing an additional 1,106 shares during the period. 59.34% of the stock is owned by institutional investors.

About Archer Aviation

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.