Archer Aviation (NYSE:ACHR) Trading Down 3.7% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 3.7% during mid-day trading on Thursday . The company traded as low as $5.30 and last traded at $5.3550. 18,408,502 shares were traded during trading, a decline of 49% from the average session volume of 36,134,523 shares. The stock had previously closed at $5.56.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ACHR shares. Needham & Company LLC reduced 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 assumed coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a “neutral” rating and a $11.00 target price on the stock. Finally, Weiss Ratings reaffirmed 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

The firm has a 50-day simple moving average of $6.91 and a 200-day simple moving average of $8.43. The firm has a market capitalization of $3.79 billion, a PE ratio of -5.15 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

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

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 9,580 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $60,066.60. Following the transaction, the chief technology officer directly owned 1,352,208 shares in the company, valued at approximately $8,478,344.16. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 10,949 shares of Archer Aviation stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the transaction, the insider owned 384,768 shares in the company, valued at $2,412,495.36. This represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 380,750 shares of company stock valued at $2,645,333 in the last quarter. Insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Johnson Investment Counsel Inc. bought a new position in shares of Archer Aviation in the third quarter worth about $29,000. Bank of Jackson Hole Trust lifted its position in shares of Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after buying an additional 986 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Archer Aviation by 105.3% during the 2nd 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 during the period. Sound Income Strategies LLC purchased a new stake in Archer Aviation in the 3rd quarter worth approximately $33,000. Finally, Center for Financial Planning Inc. increased its holdings in Archer Aviation by 138.8% in the 3rd quarter. Center for Financial Planning Inc. now owns 3,510 shares of the company’s stock worth $34,000 after acquiring an additional 2,040 shares in the last quarter. 59.34% of the stock is currently 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.