Archer Aviation (NYSE:ACHR) Trading Down 2.5% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 2.5% during mid-day trading on Tuesday . The stock traded as low as $8.45 and last traded at $8.6410. Approximately 44,826,216 shares were traded during trading, a decline of 10% from the average daily volume of 49,801,707 shares. The stock had previously closed at $8.86.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACHR shares. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Stock Down 2.5%

The firm’s 50 day moving average is $8.12 and its 200-day moving average is $9.52. The firm has a market cap of $5.63 billion, a PE ratio of -6.86 and a beta of 3.10. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). As a group, equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the sale, the insider owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. The trade was a 33.13% 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, CTO Thomas Paul Muniz sold 125,000 shares of the firm’s stock in a transaction dated 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 owned 1,272,129 shares in the company, valued at approximately $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 307,635 shares of company stock valued at $2,367,936 in the last ninety days. 7.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. Strs Ohio purchased a new position in shares of Archer Aviation in the 1st quarter valued at $27,000. AlphaQuest LLC increased its holdings in Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after purchasing an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation in the 3rd quarter valued at $29,000. Bank of Jackson Hole Trust raised its position in Archer Aviation by 45.9% in the third 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 during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after purchasing an additional 2,024 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other 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.