Archer Aviation (NYSE:ACHR) Stock Price Down 4.4% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) fell 4.4% on Wednesday . The company traded as low as $7.68 and last traded at $7.7350. 34,686,175 shares were traded during mid-day trading, a decline of 24% from the average session volume of 45,763,352 shares. The stock had previously closed at $8.09.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. Finally, 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. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Stock Performance

The company has a market cap of $5.04 billion, a price-to-earnings ratio of -6.14 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The firm has a fifty day simple moving average of $8.16 and a 200 day simple moving average of $9.44.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.20). On average, sell-side analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 45,018 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $337,184.82. Following the completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares in the company, valued at $10,177,032. This trade represents a 8.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 307,635 shares of company stock worth $2,367,936 over the last quarter. 7.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Archer Aviation by 37.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 74,654 shares of the company’s stock valued at $561,000 after acquiring an additional 20,148 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Archer Aviation by 307.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 121,971 shares of the company’s stock valued at $917,000 after purchasing an additional 92,005 shares in the last quarter. Jeppson Wealth Management LLC bought a new position in Archer Aviation in the fourth quarter worth $104,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Archer Aviation by 22.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 128,218 shares of the company’s stock worth $964,000 after purchasing an additional 23,715 shares during the period. Finally, Krilogy Financial LLC acquired a new stake in Archer Aviation during the fourth quarter worth $182,000. 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.