Archer Aviation (NYSE:ACHR) Stock Price Down 3.2% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded down 3.2% during mid-day trading on Tuesday . The stock traded as low as $8.10 and last traded at $8.1350. 29,783,496 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 39,479,391 shares. The stock had previously closed at $8.40.

Wall Street Analysts Forecast Growth

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

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The company has a 50 day moving average price of $8.91 and a 200 day moving average price of $9.80. The company has a market capitalization of $5.30 billion, a PE ratio of -6.45 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). Equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In other news, insider Tosha Perkins sold 45,018 shares of Archer Aviation 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 $337,184.82. Following the completion of the transaction, the insider owned 334,632 shares in the company, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the transaction, the insider directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. This represents a 33.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 182,635 shares of company stock worth $1,367,936. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clear Creek Financial Management LLC purchased a new stake in Archer Aviation in the 2nd quarter worth about $465,000. Vestor Capital LLC increased its holdings in shares of Archer Aviation by 1,014.7% in the 2nd quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock valued at $3,024,000 after purchasing an additional 253,666 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Archer Aviation in the first quarter worth approximately $4,977,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Archer Aviation by 57.5% during the second quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company’s stock worth $1,242,000 after purchasing an additional 41,800 shares during the period. Finally, Alpine Global Management LLC boosted its holdings in shares of Archer Aviation by 16.7% during the first quarter. Alpine Global Management LLC now owns 4,301,402 shares of the company’s stock worth $30,583,000 after purchasing an additional 615,481 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.