Archer Aviation (NYSE:ACHR) Shares Down 4.4% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 4.4% during trading on Thursday . The company traded as low as $6.31 and last traded at $6.46. 38,542,515 shares changed hands during trading, a decline of 2% from the average session volume of 39,303,348 shares. The stock had previously closed at $6.76.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Needham & Company LLC cut their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.00.

Archer Aviation Price Performance

The company has a market cap of $4.21 billion, a PE ratio of -6.53 and a beta of 3.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 19.89 and a quick ratio of 18.19. The stock’s 50-day moving average is $7.71 and its 200 day moving average is $8.79.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). Archer Aviation’s revenue for the quarter was up 29900.0% on a year-over-year basis. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, CTO Thomas Paul Muniz sold 125,000 shares of the 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 in the company, valued at approximately $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the stock. Gould Capital LLC boosted 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 worth $27,000 after purchasing an additional 2,507 shares in the last quarter. Strs Ohio purchased a new position in shares of Archer Aviation in the first quarter worth $27,000. AlphaQuest LLC lifted its stake in shares of Archer Aviation by 1,181.6% during the second 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 period. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $28,000 after buying an additional 3,335 shares during the period. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Archer Aviation during the third quarter valued at $29,000. Institutional investors and hedge funds 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.