Archer Aviation (NYSE:ACHR) Stock Price Down 3.7% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price dropped 3.7% during trading on Tuesday . The company traded as low as $5.22 and last traded at $5.3350. Approximately 31,818,402 shares changed hands during trading, a decline of 10% from the average daily volume of 35,295,195 shares. The stock had previously closed at $5.54.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of research reports. Needham & Company LLC dropped their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Stock Performance

The business has a 50 day moving average of $6.51 and a 200 day moving average of $8.28. The company has a market capitalization of $3.97 billion, a P/E ratio of -5.39 and a beta of 3.24. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.40 million. Archer Aviation’s revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CFO Priya Gupta sold 7,263 shares of the company’s 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 $45,539.01. Following the sale, the chief financial officer directly owned 178,512 shares in the company, valued at $1,119,270.24. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Tosha Perkins sold 10,949 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $68,650.23. Following the sale, the insider owned 384,768 shares in the company, valued at approximately $2,412,495.36. This trade represents a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 255,750 shares of company stock valued at $1,645,333. Corporate insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust raised its position 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 valued at $30,000 after purchasing an additional 986 shares during the period. Prime Capital Investment Advisors LLC raised its position in Archer Aviation by 2.5% during the third 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 period. Farther Finance Advisors LLC raised its position in Archer Aviation by 7.0% during the fourth quarter. Farther Finance Advisors LLC now owns 18,659 shares of the company’s stock valued at $140,000 after purchasing an additional 1,220 shares during the period. HighPoint Advisor Group LLC raised its position in Archer Aviation by 3.6% during the third quarter. HighPoint Advisor Group LLC now owns 35,919 shares of the company’s stock valued at $344,000 after purchasing an additional 1,237 shares during the period. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Archer Aviation by 2.9% in the third quarter. Clear Creek Financial Management LLC now owns 44,084 shares of the company’s stock worth $422,000 after buying an additional 1,254 shares during the period. 59.34% of the stock is currently owned by hedge funds and other 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.