Archer Aviation (NYSE:ACHR) Shares Down 4.4% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price dropped 4.4% on Friday . The company traded as low as $8.48 and last traded at $8.6150. Approximately 32,552,883 shares traded hands during trading, a decline of 33% from the average daily volume of 48,929,391 shares. The stock had previously closed at $9.01.

Wall Street Analyst Weigh In

ACHR has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Wednesday, January 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Finally, Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Stock Performance

The company has a market cap of $5.61 billion, a P/E ratio of -6.84 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. The business has a fifty day simple moving average of $8.13 and a two-hundred day simple moving average of $9.50.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the transaction, the insider directly owned 334,632 shares in the company, valued at approximately $2,506,393.68. This trade represents a 11.86% 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 Archer Aviation stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at $10,177,032. This represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 307,635 shares of company stock valued at $2,367,936 in the last ninety days. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the stock. AlphaQuest LLC lifted its position in shares of Archer Aviation by 1,181.6% during the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after buying an additional 2,375 shares in the last quarter. GAMMA Investing LLC increased its holdings in Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after acquiring an additional 2,024 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in Archer Aviation during the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust raised its stake in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Archer Aviation by 105.3% during the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares in the last quarter. Institutional investors own 59.34% of the company’s stock.

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.