Archer Aviation (NYSE:ACHR) Trading Down 6.7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 6.7% during mid-day trading on Thursday . The stock traded as low as $6.36 and last traded at $6.4850. 51,675,063 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 43,892,316 shares. The stock had previously closed at $6.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ACHR shares. JPMorgan Chase & Co. decreased their price objective on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Cantor Fitzgerald restated 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 research note on Wednesday, January 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Price Performance

The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average of $8.16 and a 200 day moving average of $9.26. The firm has a market capitalization of $4.22 billion, a PE ratio of -5.15 and a beta of 3.11.

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

Insider Activity

In other news, insider Eric Lentell sold 41,490 shares of the business’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 value of $310,760.10. Following the transaction, the insider owned 83,733 shares in the company, valued at $627,160.17. The trade was a 33.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Thomas Paul Muniz sold 125,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the sale, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. The trade was a 8.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 307,635 shares of company stock valued at $2,367,936 in the last three months. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACHR. United Bank raised its stake in shares of Archer Aviation by 179.1% during the 4th quarter. United Bank now owns 176,664 shares of the company’s stock worth $1,329,000 after purchasing an additional 113,368 shares during the period. SkyOak Wealth LLC raised its position in Archer Aviation by 22.0% in the fourth quarter. SkyOak Wealth LLC now owns 25,000 shares of the company’s stock worth $188,000 after acquiring an additional 4,500 shares during the period. Western Wealth Management LLC raised its position in Archer Aviation by 46.2% in the fourth quarter. Western Wealth Management LLC now owns 18,818 shares of the company’s stock worth $142,000 after acquiring an additional 5,944 shares during the period. Pacific Sun Financial Corp boosted its stake in Archer Aviation by 114.1% in the fourth quarter. Pacific Sun Financial Corp now owns 26,640 shares of the company’s stock valued at $200,000 after acquiring an additional 14,200 shares during the last quarter. Finally, World Investment Advisors grew its position in shares of Archer Aviation by 37.7% during the 4th 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 during the period. 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.