Archer Aviation (NYSE:ACHR) Hits New 1-Year Low – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price reached a new 52-week low on Monday . The company traded as low as $4.57 and last traded at $4.6450, with a volume of 4025976 shares traded. The stock had previously closed at $4.73.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Canaccord Genuity Group dropped their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Price Performance

The stock’s 50 day moving average price is $5.72 and its 200-day moving average price is $6.47. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $3.49 billion, a PE ratio of -4.18 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $1.66 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insider Activity at Archer Aviation

In other news, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $58,667.00. Following the transaction, the chief financial officer directly owned 189,050 shares of the company’s stock, valued at approximately $1,124,847.50. This trade represents a 4.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Harsh Rungta sold 12,414 shares of Archer Aviation stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $73,863.30. Following the sale, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at $518,899.50. This represents a 12.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 250,743 shares of company stock valued at $1,497,672. 5.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Seven Grand Managers LLC acquired a new position in Archer Aviation during the fourth quarter valued at $22,560,000. Sumitomo Mitsui Trust Group Inc. grew its position in Archer Aviation by 21.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,914,191 shares of the company’s stock worth $59,515,000 after purchasing an additional 1,407,775 shares during the period. Norges Bank acquired a new stake in Archer Aviation during the 4th quarter worth about $58,494,000. Vanguard Group Inc. raised its stake 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 valued at $411,165,000 after buying an additional 2,312,899 shares during the last quarter. Finally, Generali Powszechne Towarzystwo Emerytalne purchased a new position in shares of Archer Aviation during the 4th quarter valued at about $7,520,000. 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.