Archer Aviation (NYSE:ACHR) Stock Price Down 1.8% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 1.8% during trading on Thursday . The stock traded as low as $6.11 and last traded at $6.4050. Approximately 46,613,268 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 34,628,309 shares. The stock had previously closed at $6.52.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Needham & Company LLC lowered their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Finally, Canaccord Genuity Group lowered their price target on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday. 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 company’s stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $11.83.

Archer Aviation Stock Down 1.8%

The company has a quick ratio of 19.89, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $4.77 billion, a P/E ratio of -5.82 and a beta of 3.13. The firm has a fifty day simple moving average of $5.90 and a 200-day simple moving average of $7.36.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same period in the previous year, the firm posted ($0.17) EPS. On average, equities research analysts expect that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 94,725 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $611,923.50. Following the completion of the transaction, the chief technology officer directly owned 1,345,430 shares in the company, valued at approximately $8,691,477.80. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 54,786 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $353,917.56. Following the transaction, the insider owned 377,022 shares of the company’s stock, valued at approximately $2,435,562.12. The trade was a 12.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 255,750 shares of company stock valued at $1,645,333 in the last 90 days. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ACHR. Sumitomo Mitsui Trust Group Inc. boosted its position in Archer Aviation by 21.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock valued at $59,515,000 after purchasing an additional 1,407,775 shares during the last quarter. AlphaQuest LLC boosted its position in Archer Aviation by 3,207.5% during the third quarter. AlphaQuest LLC now owns 85,202 shares of the company’s stock valued at $816,000 after purchasing an additional 82,626 shares during the last quarter. Vanguard Group Inc. boosted its position in Archer Aviation by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock valued at $411,165,000 after purchasing an additional 2,312,899 shares during the last quarter. Generali Powszechne Towarzystwo Emerytalne acquired a new position in Archer Aviation during the fourth quarter valued at approximately $7,520,000. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Archer Aviation during the third quarter valued at approximately $816,000. 59.34% of the stock is currently owned by institutional investors.

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.