Archer Aviation (NYSE:ACHR) Shares Down 2.1% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 2.1% on Monday . The stock traded as low as $5.82 and last traded at $5.9250. 57,894,778 shares were traded during mid-day trading, an increase of 65% from the average session volume of 35,009,004 shares. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Finally, Needham & Company LLC lowered their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Five 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Trading Down 2.1%

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 cap of $4.41 billion, a PE ratio of -5.39 and a beta of 3.13. The business’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $7.28.

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 firm had revenue of $1.60 million for the quarter, compared to analyst estimates of $1.66 million. During the same quarter in the prior year, the company posted ($0.17) EPS. As a group, analysts expect that Archer Aviation Inc. will post -1.51 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 37,390 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $241,539.40. Following the transaction, the insider directly owned 139,483 shares of the company’s stock, valued at $901,060.18. This represents a 21.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Harsh Rungta sold 22,826 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the sale, the chief accounting officer directly owned 65,458 shares of the company’s stock, valued at $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 255,750 shares of company stock valued at $1,645,333. Corporate insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Several large investors have recently added to or reduced their stakes in ACHR. Bank of Jackson Hole Trust lifted its stake in shares of Archer Aviation by 45.9% in the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the last quarter. Prime Capital Investment Advisors LLC increased its position in Archer Aviation by 2.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after buying an additional 1,107 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after buying an additional 1,220 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Archer Aviation by 3.6% in the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after buying an additional 1,237 shares during the last quarter. Finally, Clear Creek Financial Management LLC lifted its position in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after buying an additional 1,254 shares during the last quarter. 59.34% of the stock is owned by institutional investors.

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.