Archer Aviation (NYSE:ACHR) Shares Down 5.1% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 5.1% during mid-day trading on Friday . The company traded as low as $5.07 and last traded at $5.0950. Approximately 28,186,710 shares changed hands during trading, a decline of 22% from the average daily volume of 36,002,238 shares. The stock had previously closed at $5.37.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Needham & Company LLC decreased their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. The Goldman Sachs Group started coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

The company has a market capitalization of $3.79 billion, a P/E ratio of -5.15 and a beta of 3.10. The business’s 50-day moving average is $6.99 and its two-hundred day moving average is $8.45. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $1.40 million. The firm’s quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, insider Eric Lentell sold 37,390 shares of Archer Aviation stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $241,539.40. Following the sale, the insider directly owned 139,483 shares in the company, valued at approximately $901,060.18. This trade represents a 21.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,272,129 shares in the company, valued at approximately $10,177,032. This represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 380,750 shares of company stock worth $2,645,333. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in ACHR. Vanguard Group Inc. grew its position in Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock valued at $501,640,000 after buying an additional 16,452,398 shares during the period. Norges Bank purchased a new stake in Archer Aviation during the fourth quarter worth about $58,494,000. Man Group plc raised its position in Archer Aviation by 13,793.3% in the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after acquiring an additional 4,182,400 shares during the period. BNP Paribas Financial Markets boosted its stake in Archer Aviation by 423.3% in the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after acquiring an additional 4,146,574 shares during the last quarter. Finally, ARK Investment Management LLC boosted its stake in Archer Aviation by 12.4% in the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after acquiring an additional 3,869,252 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

About Archer Aviation

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.