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

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 4.4% during mid-day trading on Thursday . The company traded as low as $6.31 and last traded at $6.46. Approximately 38,542,515 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 39,303,348 shares. The stock had previously closed at $6.76.

Analyst Ratings Changes

Several analysts have weighed in on ACHR shares. Needham & Company LLC dropped their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 target price for the company. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 18.19. The firm has a fifty day simple moving average of $7.71 and a 200 day simple moving average of $8.79. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -6.53 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gould Capital LLC lifted its stake in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio purchased a new stake in Archer Aviation during the 1st quarter worth approximately $27,000. AlphaQuest LLC raised its holdings in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after acquiring an additional 3,335 shares during the last quarter. Finally, Johnson Investment Counsel Inc. purchased a new position in shares of Archer Aviation in the third quarter valued at approximately $29,000. Hedge funds and other 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.