Archer Aviation (NYSE:ACHR) Stock Price Down 6.4% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares dropped 6.4% on Tuesday . The stock traded as low as $5.47 and last traded at $5.5150. Approximately 28,287,995 shares traded hands during trading, a decline of 23% from the average daily volume of 36,538,855 shares. The stock had previously closed at $5.89.

Analyst Ratings Changes

A number of research firms have recently issued reports on ACHR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Needham & Company LLC dropped their price objective 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 reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group started coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 19.89 and a current ratio of 19.89. The company’s fifty day simple moving average is $7.18 and its two-hundred day simple moving average is $8.52. The stock has a market capitalization of $4.11 billion, a PE ratio of -5.57 and a beta of 3.10.

Archer Aviation (NYSE:ACHR) last announced its 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). The business had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The firm’s revenue was up 29900.0% on a year-over-year basis. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In related news, insider Tosha Perkins sold 54,786 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total value of $353,917.56. Following the sale, the insider owned 377,022 shares of the company’s stock, valued at approximately $2,435,562.12. This represents a 12.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were 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. The trade was a 8.95% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 380,750 shares of company stock worth $2,645,333. 7.65% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB acquired a new position in shares of Archer Aviation in the second quarter worth about $1,324,000. Voya Investment Management LLC grew its stake in Archer Aviation by 180.0% during the 3rd quarter. Voya Investment Management LLC now owns 418,366 shares of the company’s stock valued at $4,008,000 after purchasing an additional 268,955 shares in the last quarter. Cetera Investment Advisers increased its holdings in Archer Aviation by 16.6% during the 2nd quarter. Cetera Investment Advisers now owns 374,059 shares of the company’s stock worth $4,059,000 after purchasing an additional 53,135 shares during the last quarter. Marex Group plc purchased a new stake in Archer Aviation during the 2nd quarter worth approximately $24,699,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Archer Aviation in the 2nd quarter valued at approximately $10,839,000. 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.