Archer Aviation (NYSE:ACHR) Sets New 12-Month Low – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price reached a new 52-week low on Monday . The company traded as low as $4.57 and last traded at $4.6450, with a volume of 4025976 shares trading hands. The stock had previously closed at $4.73.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. Canaccord Genuity Group cut their price objective on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.83.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 18.06. The firm has a market cap of $3.70 billion, a PE ratio of -4.42 and a beta of 3.19. The firm has a 50-day simple moving average of $5.68 and a 200 day simple moving average of $6.43.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Monday, May 11th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $1.66 million. During the same quarter in the previous year, the business posted ($0.17) EPS. As a group, equities analysts expect that Archer Aviation Inc. will post -1.47 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CAO Harsh Rungta sold 12,414 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.95, for a total value of $73,863.30. Following the sale, the chief accounting officer directly owned 87,210 shares of the company’s stock, valued at approximately $518,899.50. The trade was a 12.46% decrease in their ownership of the stock. 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, CTO Thomas Paul Muniz sold 91,839 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $546,442.05. Following the transaction, the chief technology officer owned 1,462,314 shares of the company’s stock, valued at $8,700,768.30. The trade was a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 250,743 shares of company stock worth $1,497,672 over the last three months. Company insiders own 5.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its stake in Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after purchasing an additional 1,220 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Archer Aviation by 11.1% during the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after buying an additional 1,373 shares during the period. Meridian Investment Counsel Inc. lifted its position in shares of Archer Aviation by 3.4% during the fourth quarter. Meridian Investment Counsel Inc. now owns 43,950 shares of the company’s stock worth $331,000 after purchasing an additional 1,440 shares during the last quarter. Choreo LLC boosted its position in Archer Aviation by 8.1% in the 4th quarter. Choreo LLC now owns 20,802 shares of the company’s stock valued at $157,000 after buying an additional 1,555 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.

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.