Archer Aviation (NYSE:ACHR) Stock Price Down 3.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) was down 3.7% on Tuesday . The stock traded as low as $5.22 and last traded at $5.3350. Approximately 31,818,402 shares were traded during mid-day trading, a decline of 10% from the average daily volume of 35,295,195 shares. The stock had previously closed at $5.54.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ACHR shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Needham & Company LLC reduced 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 given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Stock Performance

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 firm has a fifty day moving average price of $6.51 and a two-hundred day moving average price of $8.28. The stock has a market capitalization of $3.97 billion, a PE ratio of -5.39 and a beta of 3.24.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. The company’s quarterly revenue was up 29900.0% compared to the same quarter last year. Research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity at Archer Aviation

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. J. Derek Lewis & Associates Inc. purchased a new position in Archer Aviation during the 4th quarter worth $293,000. Fund Advisors of America Inc FL purchased a new position in Archer Aviation during the 4th quarter worth $178,000. World Investment Advisors increased its holdings in Archer Aviation by 37.7% during the 4th quarter. World Investment Advisors now owns 19,400 shares of the company’s stock worth $146,000 after purchasing an additional 5,309 shares during the period. Corient Private Wealth LLC increased its holdings 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 purchasing an additional 7,515 shares during the period. Finally, EMC Capital Management increased its holdings in Archer Aviation by 22.5% during the 4th quarter. EMC Capital Management now owns 13,600 shares of the company’s stock worth $102,000 after purchasing an additional 2,500 shares during the period. 59.34% of the stock is currently owned by hedge funds and other 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.