Archer Aviation (NYSE:ACHR) Stock Price Down 1.8% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 1.8% during trading on Thursday . The stock traded as low as $6.11 and last traded at $6.4050. 46,613,268 shares were traded during trading, an increase of 35% from the average session volume of 34,628,309 shares. The stock had previously closed at $6.52.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research 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 for the company in a research report on Tuesday. Finally, Needham & Company LLC cut 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 equities research 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’s stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average price target of $11.83.

Archer Aviation Stock Performance

The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of -5.82 and a beta of 3.13. The stock has a 50-day moving average price of $5.90 and a 200-day moving average price of $7.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 18.06 and a quick ratio of 19.89.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.03). The firm had revenue of $1.60 million during the quarter, compared to the consensus estimate of $1.66 million. During the same period last year, the firm posted ($0.17) earnings per share. As a group, analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 9,580 shares of Archer Aviation stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $60,066.60. Following the completion of the sale, the chief technology officer directly owned 1,352,208 shares of the company’s stock, valued at approximately $8,478,344.16. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Harsh Rungta sold 22,826 shares of Archer Aviation stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $147,455.96. Following the sale, the chief accounting officer directly owned 65,458 shares of the company’s stock, valued at approximately $422,858.68. The trade was a 25.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 255,750 shares of company stock worth $1,645,333 in the last 90 days. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds have recently added to or reduced their stakes in the company. Gould Capital LLC lifted its holdings in Archer Aviation by 238.1% during the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock worth $27,000 after purchasing an additional 2,507 shares during the last quarter. Strs Ohio acquired a new stake in Archer Aviation during the 1st quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in Archer Aviation by 840.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock worth $28,000 after purchasing an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in Archer Aviation during the 3rd quarter worth approximately $29,000. Finally, Modus Advisors LLC acquired a new stake in Archer Aviation during the 4th quarter worth approximately $29,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.