Archer Aviation (NYSE:ACHR) Stock Price Down 2.8% – Should You Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) fell 2.8% on Friday . The company traded as low as $7.11 and last traded at $7.22. 32,235,493 shares traded hands during trading, a decline of 28% from the average session volume of 44,899,934 shares. The stock had previously closed at $7.43.

Wall Street Analysts Forecast Growth

ACHR has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research note on Wednesday, January 14th. Cantor Fitzgerald restated an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Canaccord Genuity Group upped 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, JPMorgan Chase & Co. cut their price target 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. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.14.

Archer Aviation Trading Down 2.8%

The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19. The stock has a 50-day moving average price of $8.18 and a two-hundred day moving average price of $9.38. The stock has a market cap of $4.70 billion, a PE ratio of -5.73 and a beta of 3.10.

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

Insider Transactions at Archer Aviation

In related news, 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 value of $337,184.82. Following the completion of the transaction, the insider directly owned 334,632 shares of the company’s stock, valued at approximately $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the company’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 $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares in the company, valued at approximately $1,209,807.27. The trade was a 3.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 307,635 shares of company stock valued at $2,367,936 over the last quarter. 7.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ACHR. Bank of Jackson Hole Trust increased its stake in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after acquiring an additional 986 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Archer Aviation by 45.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,524 shares of the company’s stock worth $38,000 after purchasing an additional 1,106 shares during the period. Prime Capital Investment Advisors LLC increased its position in shares of Archer Aviation by 2.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 46,262 shares of the company’s stock valued at $443,000 after purchasing an additional 1,107 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in Archer Aviation by 3.6% during the 3rd quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after buying an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC raised its holdings in Archer Aviation by 2.9% during the 3rd quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock valued at $422,000 after buying an additional 1,254 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.