Archer Aviation (NYSE:ACHR) Stock Price Down 6.4% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares dropped 6.4% during trading on Tuesday . The stock traded as low as $5.47 and last traded at $5.5150. Approximately 28,287,995 shares changed hands during trading, a decline of 23% from the average daily volume of 36,538,855 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ACHR shares. The Goldman Sachs Group assumed coverage on Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, Needham & Company LLC decreased their price target on shares of Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Stock Down 6.4%

The business has a 50-day simple moving average of $7.18 and a two-hundred day simple moving average of $8.52. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -5.57 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share 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. Archer Aviation’s quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In related news, CFO Priya Gupta sold 10,172 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $65,711.12. Following the completion of the sale, the chief financial officer owned 171,754 shares in the company, valued at $1,109,530.84. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Thomas Paul Muniz sold 125,000 shares of Archer Aviation 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 completion of the sale, the chief technology officer directly owned 1,272,129 shares in the company, valued at $10,177,032. This represents a 8.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 380,750 shares of company stock valued at $2,645,333 over the last ninety days. 7.65% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

A number of institutional investors have recently modified their holdings of the business. Gould Capital LLC lifted its holdings in Archer Aviation by 238.1% in the fourth quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after acquiring an additional 2,507 shares during the period. Strs Ohio purchased a new position in shares of Archer Aviation in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Archer Aviation by 840.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after purchasing an additional 3,335 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Archer Aviation in the third quarter valued at about $29,000. Finally, Modus Advisors LLC acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $29,000. 59.34% of the stock is currently 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.