Archer Aviation (NYSE:ACHR) Stock Price Down 3.9% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price dropped 3.9% during trading on Thursday . The company traded as low as $7.29 and last traded at $7.4250. Approximately 38,618,012 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 45,553,789 shares. The stock had previously closed at $7.73.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACHR. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. dropped their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Six investment 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.com, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Stock Down 2.8%

The stock has a market cap of $4.70 billion, a P/E ratio of -5.73 and a beta of 3.10. The company’s 50 day moving average price is $8.18 and its two-hundred day moving average price is $9.39. 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 posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). As a group, research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the transaction, the chief technology officer owned 1,272,129 shares in the company, valued at $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Priya Gupta sold 5,479 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 307,635 shares of company stock valued at $2,367,936. 7.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors have recently made changes to their positions in ACHR. Bank of Jackson Hole Trust lifted its position in shares of 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 acquiring an additional 986 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Archer Aviation by 45.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock valued at $38,000 after acquiring an additional 1,106 shares in the last quarter. Prime Capital Investment Advisors LLC raised its holdings in Archer Aviation by 2.5% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after acquiring an additional 1,107 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in Archer Aviation by 3.6% in the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock worth $344,000 after purchasing an additional 1,237 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its holdings in shares of Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after purchasing an additional 1,254 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.