Archer Aviation (NYSE:ACHR) Trading Down 2% – Time to Sell?

by · The Cerbat Gem

Archer Aviation Inc. (NYSE:ACHRGet Free Report) shares were down 2% on Tuesday . The company traded as low as $7.54 and last traded at $7.5450. Approximately 17,630,588 shares traded hands during trading, a decline of 55% from the average daily volume of 39,118,129 shares. The stock had previously closed at $7.70.

Analysts Set New Price Targets

Several research analysts have commented on ACHR shares. The Goldman Sachs Group assumed coverage on Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target on the stock. Needham & Company LLC lowered their price target on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, November 7th. Canaccord Genuity Group raised their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, November 21st. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Six 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, Archer Aviation has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Check Out Our Latest Stock Report on Archer Aviation

Archer Aviation Stock Performance

The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of -5.99 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $8.69 and its 200-day moving average is $9.71.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). On average, analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 90,648 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $678,953.52. Following the sale, the chief technology officer directly owned 1,397,129 shares in the company, valued at approximately $10,464,496.21. This represents a 6.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the business’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 transaction, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This trade represents a 3.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 182,635 shares of company stock worth $1,367,936 over the last quarter. 7.65% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACHR. Clear Creek Financial Management LLC purchased a new position in Archer Aviation during the second quarter valued at $465,000. Vestor Capital LLC raised its holdings in Archer Aviation by 1,014.7% in the 2nd quarter. Vestor Capital LLC now owns 278,666 shares of the company’s stock worth $3,024,000 after acquiring an additional 253,666 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Archer Aviation during the first quarter valued at $4,977,000. KLP Kapitalforvaltning AS grew its stake in shares of Archer Aviation by 57.5% in the second quarter. KLP Kapitalforvaltning AS now owns 114,500 shares of the company’s stock worth $1,242,000 after acquiring an additional 41,800 shares during the period. Finally, Perbak Capital Partners LLP purchased a new stake in Archer Aviation during the 1st quarter valued at $301,000. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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.

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