Archer Aviation (NYSE:ACHR) Trading Down 2.9% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 2.9% during trading on Friday . The stock traded as low as $6.22 and last traded at $6.27. Approximately 30,744,219 shares were traded during trading, a decline of 21% from the average daily volume of 39,114,008 shares. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Needham & Company LLC dropped their target price on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday. JPMorgan Chase & Co. lowered their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. The Goldman Sachs Group initiated coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Canaccord Genuity Group increased their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research 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 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Stock Down 2.9%

The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 18.19. The company has a market capitalization of $4.08 billion, a PE ratio of -6.33 and a beta of 3.10. The business has a 50-day moving average of $7.68 and a 200 day moving average of $8.77.

Archer Aviation (NYSE:ACHR) last released 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 business had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. Archer Aviation’s revenue was up 29900.0% on a year-over-year basis. 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 related news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction on 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 owned 1,272,129 shares in the company, valued at approximately $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in shares of Archer Aviation in the 1st quarter worth $293,000. Integrated Wealth Concepts LLC raised its position in shares of Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Archer Aviation by 44.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after acquiring an additional 59,317 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Archer Aviation by 5.1% in the 1st quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after acquiring an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after acquiring an additional 285,414 shares in 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.