Archer Aviation (NYSE:ACHR) Shares Down 4.2% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s stock price fell 4.2% during mid-day trading on Friday . The company traded as low as $5.67 and last traded at $5.7550. 33,813,380 shares traded hands during trading, a decline of 8% from the average session volume of 36,881,836 shares. The stock had previously closed at $6.01.

Analyst Upgrades and Downgrades

ACHR has been the subject of a number of research reports. 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 research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Finally, The Goldman Sachs Group began coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Stock Performance

The stock has a market cap of $3.75 billion, a PE ratio of -5.81 and a beta of 3.10. The stock has a fifty day moving average of $7.24 and a 200-day moving average of $8.53. 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 posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. The firm’s quarterly revenue was up 29900.0% compared to the same quarter last year. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other Archer Aviation news, CFO Priya Gupta sold 7,263 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $45,539.01. Following the completion of the transaction, the chief financial officer owned 178,512 shares in the company, valued at approximately $1,119,270.24. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the transaction, the chief accounting officer owned 65,458 shares of the company’s stock, valued at approximately $422,858.68. The trade was a 25.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 380,750 shares of company stock valued at $2,645,333. 7.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Jackson Hole Trust boosted its holdings in Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after purchasing an additional 1,107 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Archer Aviation by 7.0% during the 4th quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock worth $140,000 after buying an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after buying an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC lifted its holdings in shares of Archer Aviation by 2.9% in the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after buying an additional 1,254 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.