Archer Aviation (NYSE:ACHR) Stock Price Down 6.2% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) fell 6.2% during trading on Tuesday . The company traded as low as $8.18 and last traded at $8.3150. 12,262,409 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 44,288,609 shares. The stock had previously closed at $8.86.

Analyst Ratings Changes

ACHR has been the subject of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Finally, Canaccord Genuity Group raised their price objective on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Price Performance

The business’s 50 day moving average is $8.13 and its 200-day moving average is $9.57. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.52 billion, a P/E ratio of -6.72 and a beta of 3.10.

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

Insider Activity at Archer Aviation

In other news, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. This represents a 11.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 over the last three months. 7.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the company. Bank of Jackson Hole Trust raised its position in Archer Aviation by 45.9% in the third 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 during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Archer Aviation by 45.7% in the second quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after buying an additional 1,106 shares during the period. Prime Capital Investment Advisors LLC increased its stake in shares of Archer Aviation by 2.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after buying an additional 1,107 shares during the period. Moody National Bank Trust Division raised its holdings in Archer Aviation by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 169,345 shares of the company’s stock valued at $1,837,000 after buying an additional 1,211 shares during the last quarter. Finally, HighPoint Advisor Group LLC boosted its position in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after buying an additional 1,237 shares during the period. Institutional investors and hedge funds 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.