Archer Aviation (NYSE:ACHR) Trading Down 3.1% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) shares were down 3.1% on Tuesday . The stock traded as low as $5.23 and last traded at $5.26. Approximately 38,406,905 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 38,458,777 shares. The stock had previously closed at $5.43.

Analyst Ratings Changes

Several brokerages have issued reports on ACHR. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research report on Monday, April 20th. Needham & Company LLC dropped their target price on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Canaccord Genuity Group lowered their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.83.

Archer Aviation Price Performance

The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -4.78 and a beta of 3.14. The company has a quick ratio of 18.06, a current ratio of 18.06 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $5.98 and its 200-day moving average price is $6.81.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The business had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same quarter last year, the business posted ($0.17) EPS. On average, equities research analysts forecast that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the transaction, the chief accounting officer owned 87,210 shares in the company, valued at approximately $518,899.50. This represents a 12.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Priya Gupta sold 9,860 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $58,667.00. Following the sale, the chief financial officer directly owned 189,050 shares in the company, valued at $1,124,847.50. This trade represents a 4.96% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 250,743 shares of company stock worth $1,497,672. 5.55% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Gould Capital LLC boosted its position in shares of Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after purchasing an additional 2,507 shares during the period. Strs Ohio acquired a new position in Archer Aviation during the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its position in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after buying an additional 3,335 shares during the period. Modus Advisors LLC purchased a new stake in Archer Aviation in the fourth quarter valued at approximately $29,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds 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.