Archer Aviation (NYSE:ACHR) Stock Price Down 7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 7% during trading on Friday . The company traded as low as $4.74 and last traded at $4.7540. 35,074,374 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 37,986,766 shares. The stock had previously closed at $5.11.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research report on Friday, July 17th. Canaccord Genuity Group dropped their price objective on shares of Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Four 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’s stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Hold” and an average price target of $11.83.

Archer Aviation Price Performance

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $3.61 billion, a PE ratio of -4.32 and a beta of 3.19. The stock’s 50-day moving average is $5.45 and its two-hundred day moving average is $6.28.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. On average, equities analysts predict that Archer Aviation Inc. will post -1.4 EPS for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the transaction, the chief accounting officer owned 87,210 shares of the company’s stock, valued at $518,899.50. This represents a 12.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Thomas Paul Muniz sold 91,839 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $546,442.05. Following the completion of the sale, the chief technology officer owned 1,462,314 shares in the company, valued at approximately $8,700,768.30. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 250,743 shares of company stock worth $1,497,672 in the last 90 days. 5.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Seven Grand Managers LLC bought a new stake in Archer Aviation during the 4th quarter valued at $22,560,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Archer Aviation by 21.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock worth $59,515,000 after buying an additional 1,407,775 shares during the period. Norges Bank bought a new position in shares of Archer Aviation during the 4th quarter worth $58,494,000. Vanguard Group Inc. grew its position in shares of Archer Aviation by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 54,676,158 shares of the company’s stock worth $411,165,000 after buying an additional 2,312,899 shares in the last quarter. Finally, Generali Powszechne Towarzystwo Emerytalne purchased a new position in shares of Archer Aviation during the fourth quarter valued at $7,520,000. 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.