Archer Aviation (NYSE:ACHR) Shares Down 3% – What’s Next?

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

Analyst Upgrades and Downgrades

ACHR has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Finally, Needham & Company LLC lowered 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. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

The company’s 50-day moving average is $6.91 and its 200-day moving average is $8.43. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of -4.99 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 19.89.

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

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Eric Lentell sold 8,059 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $50,529.93. Following the completion of the sale, the insider owned 150,119 shares of the company’s stock, valued at approximately $941,246.13. The trade was a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Priya Gupta sold 7,263 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $45,539.01. Following the sale, the chief financial officer owned 178,512 shares of the company’s stock, valued at $1,119,270.24. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 380,750 shares of company stock worth $2,645,333. 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 ACHR. Gould Capital LLC raised 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 buying an additional 2,507 shares during the period. Strs Ohio purchased a new stake in Archer Aviation during the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd increased its position in shares of Archer Aviation by 840.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after acquiring 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 worth $29,000. Finally, Modus Advisors LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at $29,000. 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.