Archer Aviation (NYSE:ACHR) Trading Down 4.1% – Should You Sell?

by · The Cerbat Gem

Shares of Archer Aviation Inc. (NYSE:ACHRGet Free Report) were down 4.1% on Friday . The company traded as low as $5.00 and last traded at $5.0850. Approximately 29,741,930 shares traded hands during trading, a decline of 22% from the average daily volume of 38,034,949 shares. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Monday, April 20th. Canaccord Genuity Group lowered their target price on Archer Aviation from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Needham & Company LLC reduced their price target on shares of 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 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.83.

Check Out Our Latest Report on ACHR

Archer Aviation Stock Performance

The company has a current ratio of 18.06, a quick ratio of 18.06 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $3.86 billion, a PE ratio of -4.62 and a beta of 3.14. The firm’s fifty day moving average price is $5.98 and its 200 day moving average price is $6.91.

Archer Aviation (NYSE:ACHRGet Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.03). The company had revenue of $1.60 million during the quarter, compared to analyst estimates of $1.66 million. During the same period last year, the company posted ($0.17) EPS. On average, research analysts anticipate that Archer Aviation Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at Archer Aviation

In other news, CAO Harsh Rungta sold 12,414 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.95, for a total transaction of $73,863.30. Following the transaction, the chief accounting officer owned 87,210 shares in the company, valued at $518,899.50. This represents a 12.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Eric Lentell sold 48,169 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $5.95, for a total value of $286,605.55. Following the transaction, the insider owned 141,084 shares in the company, valued at approximately $839,449.80. This trade represents a 25.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 246,989 shares of company stock valued at $1,478,902 over the last 90 days. Company insiders own 7.65% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gould Capital LLC grew its stake in Archer Aviation by 238.1% in the 4th quarter. Gould Capital LLC now owns 3,560 shares of the company’s stock valued at $27,000 after buying an additional 2,507 shares during the last quarter. Strs Ohio bought a new stake in Archer Aviation during the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Archer Aviation by 840.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,732 shares of the company’s stock valued at $28,000 after acquiring an additional 3,335 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in shares of Archer Aviation in the third quarter valued at about $29,000. Finally, Modus Advisors LLC bought a new position in shares of Archer Aviation in the fourth quarter worth about $29,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

(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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