Archer Aviation (NYSE:ACHR) Trading Down 3% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) fell 3% on Friday . The company traded as low as $7.87 and last traded at $7.8850. 17,036,003 shares were traded during mid-day trading, a decline of 57% from the average session volume of 39,292,984 shares. The stock had previously closed at $8.13.

Analyst Ratings Changes

ACHR has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Needham & Company LLC dropped their price target on Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. Finally, The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Trading Down 3.0%

The business’s 50-day simple moving average is $8.77 and its 200-day simple moving average is $9.75. The company has a market cap of $5.14 billion, a PE ratio of -6.26 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last announced 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). As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CFO Priya Gupta sold 5,479 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer owned 161,523 shares in the company, valued at $1,209,807.27. This represents a 3.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tosha Perkins sold 45,018 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider owned 334,632 shares in the company, valued at $2,506,393.68. This represents a 11.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 182,635 shares of company stock valued at $1,367,936 over the last 90 days. Company insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Archer Aviation during the 1st quarter worth about $27,000. AlphaQuest LLC boosted its position in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after purchasing an additional 2,375 shares during the period. Johnson Investment Counsel Inc. acquired a new position in Archer Aviation during the third quarter valued at approximately $29,000. Bank of Jackson Hole Trust raised its position in shares of Archer Aviation by 45.9% in the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after purchasing an additional 986 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Archer Aviation by 219.5% in the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company’s stock worth $32,000 after buying an additional 2,024 shares during the last quarter. 59.34% of the stock is currently owned by 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.