Archer Aviation (NYSE:ACHR) Shares Down 3% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 3% during trading on Monday . The stock traded as low as $4.80 and last traded at $4.9380. Approximately 33,448,115 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 35,898,078 shares. The stock had previously closed at $5.09.

Analysts Set New Price Targets

A number of analysts recently issued reports on ACHR shares. Needham & Company LLC cut their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89. The stock has a 50 day moving average price of $6.76 and a two-hundred day moving average price of $8.38. The firm has a market capitalization of $3.87 billion, a price-to-earnings ratio of -5.25 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $1.40 million. The company’s revenue for the quarter was up 29900.0% on a year-over-year basis. As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 54,786 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $353,917.56. Following the sale, the insider directly owned 377,022 shares of the company’s stock, valued at $2,435,562.12. This represents a 12.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Harsh Rungta sold 22,826 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $147,455.96. Following the sale, the chief accounting officer owned 65,458 shares in the company, valued at approximately $422,858.68. This trade represents a 25.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 380,750 shares of company stock valued at $2,645,333. 7.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $293,000. Fund Advisors of America Inc FL purchased a new stake in shares of Archer Aviation during the fourth quarter worth approximately $178,000. World Investment Advisors raised its holdings in Archer Aviation by 37.7% in the fourth quarter. World Investment Advisors now owns 19,400 shares of the company’s stock valued at $146,000 after acquiring an additional 5,309 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Archer Aviation by 20.9% in the fourth quarter. Corient Private Wealth LLC now owns 43,389 shares of the company’s stock valued at $327,000 after acquiring an additional 7,515 shares in the last quarter. Finally, EMC Capital Management lifted its stake in Archer Aviation by 22.5% in the fourth quarter. EMC Capital Management now owns 13,600 shares of the company’s stock worth $102,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.