Archer Aviation (NYSE:ACHR) Stock Price Down 2.5% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price dropped 2.5% on Wednesday . The company traded as low as $6.79 and last traded at $6.9920. Approximately 33,020,241 shares were traded during trading, a decline of 23% from the average daily volume of 42,763,336 shares. The stock had previously closed at $7.17.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ACHR. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Wednesday, January 14th. JPMorgan Chase & Co. decreased their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group raised their price target on 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 began coverage on Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.14.

Archer Aviation Stock Down 2.5%

The firm’s 50 day simple moving average is $8.11 and its 200 day simple moving average is $9.12. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -5.55 and a beta of 3.11. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the sale, the insider directly owned 334,632 shares in the company, valued at $2,506,393.68. The trade was a 11.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Priya Gupta sold 5,479 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the completion of the sale, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at $1,209,807.27. The trade was a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 307,635 shares of company stock valued at $2,367,936 over the last three months. 7.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AlphaQuest LLC increased its stake in shares of Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock valued at $28,000 after acquiring an additional 2,375 shares during the period. Johnson Investment Counsel Inc. bought a new position in Archer Aviation during the 3rd quarter valued at $29,000. Bank of Jackson Hole Trust increased its position in shares of Archer Aviation by 45.9% during the 3rd 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. Geneos Wealth Management Inc. increased its position in shares of Archer Aviation by 105.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after purchasing an additional 1,702 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in shares of Archer Aviation in the 3rd quarter worth $33,000. 59.34% of the stock is currently owned by 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.