Archer Aviation (NYSE:ACHR) Trading Down 2% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 2% during trading on Tuesday . The stock traded as low as $7.54 and last traded at $7.5450. Approximately 17,630,588 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 39,118,129 shares. The stock had previously closed at $7.70.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ACHR shares. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Needham & Company LLC dropped their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 7th. JPMorgan Chase & Co. decreased their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Finally, Canaccord Genuity Group raised their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a report on Friday, November 21st. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Price Performance

The company has a 50 day moving average of $8.69 and a 200 day moving average of $9.71. The stock has a market capitalization of $4.91 billion, a price-to-earnings ratio of -5.99 and a beta of 3.10. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 90,648 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $678,953.52. Following the completion of the sale, the chief technology officer owned 1,397,129 shares of the company’s stock, valued at approximately $10,464,496.21. The trade was a 6.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the transaction, the chief financial officer owned 161,523 shares in the company, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 over the last ninety days. 7.65% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Large investors have recently modified their holdings of the business. Bank of Jackson Hole Trust raised 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 in the last quarter. Farther Finance Advisors LLC lifted its position in Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after purchasing an additional 1,106 shares during the period. Prime Capital Investment Advisors LLC grew its stake in shares of Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock worth $443,000 after purchasing an additional 1,107 shares during the last quarter. Moody National Bank Trust Division raised its position in shares of Archer Aviation by 0.7% during the second quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock worth $1,837,000 after purchasing an additional 1,211 shares during the period. Finally, HighPoint Advisor Group LLC lifted its position in shares of Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after acquiring an additional 1,237 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.