Archer Aviation (NYSE:ACHR) Shares Down 1.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 1.9% on Monday . The stock traded as low as $6.97 and last traded at $7.0550. 36,330,844 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 44,351,566 shares. The stock had previously closed at $7.19.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of research analyst reports. The Goldman Sachs Group assumed coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Archer Aviation in a report on Wednesday, January 14th. Finally, Canaccord Genuity Group boosted their price target on Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, November 21st. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.14.

Archer Aviation Stock Performance

The firm has a market capitalization of $4.60 billion, a P/E ratio of -5.60 and a beta of 3.12. The company has a 50-day moving average of $8.18 and a 200-day moving average of $9.36. 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 posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. The trade was a 8.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Lentell sold 41,490 shares of Archer Aviation stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $310,760.10. Following the completion of the sale, the insider directly owned 83,733 shares of the company’s stock, valued at approximately $627,160.17. The trade was a 33.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 307,635 shares of company stock worth $2,367,936. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AlphaQuest LLC boosted its stake in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares during the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 2,024 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the third quarter worth $29,000. Bank of Jackson Hole Trust lifted its holdings 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 worth $30,000 after buying an additional 986 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock worth $36,000 after purchasing an additional 1,702 shares during the period. 59.34% of the stock is 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.