Archer Aviation (NYSE:ACHR) Shares Down 2.5% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) fell 2.5% during mid-day trading on Monday . The stock traded as low as $7.65 and last traded at $7.6920. 17,093,792 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 39,210,906 shares. The stock had previously closed at $7.89.

Analyst Ratings Changes

A number of brokerages have recently commented on ACHR. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Needham & Company LLC reduced their price objective 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 Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald reaffirmed 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Stock Performance

The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -6.10 and a beta of 3.10. The stock has a fifty day moving average price of $8.77 and a 200-day moving average price of $9.74.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). As a group, analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity

In other Archer Aviation news, insider Eric Lentell sold 41,490 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $310,760.10. Following the transaction, the insider directly owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 90,648 shares of the company’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 sale, the chief technology officer directly owned 1,397,129 shares in the company, valued at $10,464,496.21. This represents a 6.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 182,635 shares of company stock worth $1,367,936 in the last quarter. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. grew its position in Archer Aviation by 13.3% during the 1st quarter. Raymond James Financial Inc. now owns 842,433 shares of the company’s stock worth $5,990,000 after acquiring an additional 98,966 shares during the last quarter. Northern Trust Corp boosted its stake in Archer Aviation by 32.5% in the first quarter. Northern Trust Corp now owns 3,108,457 shares of the company’s stock worth $22,101,000 after purchasing an additional 762,398 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Archer Aviation by 29.8% during the first quarter. Hsbc Holdings PLC now owns 50,016 shares of the company’s stock worth $354,000 after purchasing an additional 11,491 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Archer Aviation by 32.7% in the first quarter. MetLife Investment Management LLC now owns 188,830 shares of the company’s stock valued at $1,343,000 after buying an additional 46,478 shares in the last quarter. Finally, Corebridge Financial Inc. raised its holdings in shares of Archer Aviation by 36.3% in the first quarter. Corebridge Financial Inc. now owns 158,214 shares of the company’s stock valued at $1,125,000 after buying an additional 42,144 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

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.