Archer Aviation (NYSE:ACHR) Shares Down 3.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded down 3.9% during trading on Thursday . The stock traded as low as $7.29 and last traded at $7.4250. 38,618,012 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 45,553,789 shares. The stock had previously closed at $7.73.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Wednesday, January 14th. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Stock Down 3.9%

The business has a 50-day moving average of $8.17 and a 200 day moving average of $9.43. The company has a market capitalization of $4.84 billion, a PE ratio of -5.89 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). Equities research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at $10,177,032. The trade was a 8.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Priya Gupta sold 5,479 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 307,635 shares of company stock valued at $2,367,936. Corporate insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new stake in Archer Aviation in the 1st quarter worth about $27,000. AlphaQuest LLC raised its holdings in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the period. Johnson Investment Counsel Inc. bought a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $29,000. Bank of Jackson Hole Trust boosted its holdings in Archer Aviation by 45.9% during the 3rd quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the period. Finally, GAMMA Investing LLC grew its position in Archer Aviation by 219.5% in the 2nd quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock valued at $32,000 after acquiring an additional 2,024 shares during the last quarter. 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.