Archer Aviation (NYSE:ACHR) Trading Down 1.8% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 1.8% during mid-day trading on Thursday . The company traded as low as $6.15 and last traded at $6.2950. Approximately 59,547,683 shares changed hands during trading, an increase of 77% from the average daily volume of 33,640,711 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ACHR shares. 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 report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s 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 Down 1.8%

The firm has a market cap of $4.69 billion, a price-to-earnings ratio of -6.36 and a beta of 3.13. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $5.99 and a 200-day moving average of $7.53.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. The firm’s revenue for the quarter was up 29900.0% on a year-over-year basis. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In related news, insider Tosha Perkins sold 10,949 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $68,650.23. Following the completion of the sale, the insider owned 384,768 shares of the company’s stock, valued at $2,412,495.36. This represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Lentell sold 8,059 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $50,529.93. Following the transaction, the insider directly owned 150,119 shares in the company, valued at approximately $941,246.13. The trade was a 5.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 255,750 shares of company stock valued at $1,645,333. 7.65% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently modified their holdings of the company. Gould Capital LLC raised its stake in shares of Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after buying an additional 2,507 shares in the last quarter. Strs Ohio bought a new stake in shares of Archer Aviation in the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after buying an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation in the 3rd quarter worth $29,000. Finally, Modus Advisors LLC bought a new stake in shares of Archer Aviation in the 4th quarter worth $29,000. Institutional investors own 59.34% of the company’s stock.

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.