Archer Aviation (NYSE:ACHR) Hits New 52-Week Low – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price hit a new 52-week low on Wednesday. The company traded as low as $4.30 and last traded at $4.2450, with a volume of 2,340,561 shares. The stock had previously closed at $4.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ACHR shares. Needham & Company LLC reiterated a “buy” rating and issued a $9.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of Archer Aviation in a research note on Tuesday, August 11th. Wells Fargo & Company set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Tuesday, August 11th. Finally, Barclays upgraded shares of Archer Aviation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $4.50 to $8.00 in a report on Friday, October 9th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Archer Aviation Trading Down 5.3%

The company has a market cap of $3.24 billion, a price-to-earnings ratio of -3.90 and a beta of 3.27. The firm has a 50-day moving average price of $5.60 and a 200 day moving average price of $5.55. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 0.06.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $1.94 million. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.37 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, CAO Harsh Rungta sold 13,880 shares of Archer Aviation stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.41, for a total transaction of $88,970.80. Following the sale, the chief accounting officer owned 110,847 shares of the company’s stock, valued at $710,529.27. The trade was a 11.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 10,015 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.41, for a total transaction of $64,196.15. Following the completion of the transaction, the chief financial officer owned 202,784 shares of the company’s stock, valued at $1,299,845.44. This represents a 4.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 176,657 shares of company stock worth $1,122,371 in the last three months. 5.55% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Archer Aviation by 189.3% during the third quarter. GAMMA Investing LLC now owns 6,272 shares of the company’s stock valued at $31,000 after purchasing an additional 4,104 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Archer Aviation by 979.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,285 shares of the company’s stock worth $32,000 after purchasing an additional 3,888 shares in the last quarter. Parallel Advisors LLC increased its stake in Archer Aviation by 59.4% in the 1st quarter. Parallel Advisors LLC now owns 8,786 shares of the company’s stock worth $45,000 after purchasing an additional 3,275 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Archer Aviation by 157.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 9,529 shares of the company’s stock worth $47,000 after buying an additional 5,832 shares during the period. Finally, Tulsa Wealth Advisors INC acquired a new stake in Archer Aviation during the 2nd quarter worth about $50,000. 59.34% of the stock is owned by institutional investors and hedge funds.

About Archer Aviation

Archer Aviation Inc is an aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. Its goal is to provide quieter, lower-emission transportation for short passenger trips, including airport transfers and travel between urban and suburban locations.

The company’s primary aircraft is Midnight, a piloted, four-passenger eVTOL aircraft designed for frequent short-distance flights. Archer has also developed Maker, a smaller technology demonstrator used to test its electric propulsion, flight-control and other aircraft systems.