Archer Aviation (NYSE:ACHR) Trading Down 4.2% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 4.2% on Wednesday . The company traded as low as $6.01 and last traded at $6.0250. 27,340,772 shares traded hands during trading, a decline of 27% from the average session volume of 37,277,828 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ACHR shares. Needham & Company LLC dropped their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. The Goldman Sachs Group assumed coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Canaccord Genuity Group lifted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Stock Down 4.2%

The stock has a market cap of $3.92 billion, a P/E ratio of -6.09 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The stock’s fifty day simple moving average is $7.41 and its 200-day simple moving average is $8.59.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, research analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In other news, insider Tosha Perkins sold 10,949 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $68,650.23. Following the transaction, the insider directly owned 384,768 shares in the company, valued at $2,412,495.36. The trade was a 2.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Priya Gupta sold 7,263 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $45,539.01. Following the completion of the transaction, the chief financial officer owned 178,512 shares in the company, valued at $1,119,270.24. This represents a 3.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 380,750 shares of company stock valued at $2,645,333. Corporate insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. Fund Advisors of America Inc FL bought a new position in Archer Aviation in the fourth quarter worth $178,000. World Investment Advisors boosted its stake in Archer Aviation by 37.7% in the fourth quarter. World Investment Advisors now owns 19,400 shares of the company’s stock worth $146,000 after purchasing an additional 5,309 shares in the last quarter. Corient Private Wealth LLC lifted its position in Archer Aviation by 20.9% during the 4th quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock worth $327,000 after buying an additional 7,515 shares in the last quarter. EMC Capital Management lifted its position in shares of Archer Aviation by 22.5% during the fourth quarter. EMC Capital Management now owns 13,600 shares of the company’s stock worth $102,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Tulsa Wealth Advisors INC bought a new position in Archer Aviation in the 4th quarter valued at $100,000. Institutional investors and hedge funds 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.