Archer Aviation (NYSE:ACHR) Shares Down 3.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 3.7% during trading on Thursday . The stock traded as low as $5.30 and last traded at $5.3550. Approximately 18,408,502 shares traded hands during trading, a decline of 49% from the average daily volume of 36,134,523 shares. The stock had previously closed at $5.56.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACHR. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on Archer Aviation in a report on Monday, December 1st. They set a “neutral” rating and a $11.00 price objective on the stock. Finally, Needham & Company LLC decreased their price objective on 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 analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Trading Down 3.7%

The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of -5.41 and a beta of 3.10. The business’s fifty day moving average is $7.06 and its 200 day moving average is $8.48. 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 earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $1.40 million. Archer Aviation’s revenue for the quarter was up 29900.0% compared to the same quarter last year. Equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In related news, insider Tosha Perkins sold 54,786 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the completion of the transaction, the insider directly owned 377,022 shares in the company, valued at approximately $2,435,562.12. This trade represents a 12.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Priya Gupta sold 10,172 shares of Archer Aviation stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total value of $65,711.12. Following the completion of the sale, the chief financial officer directly owned 171,754 shares in the company, valued at approximately $1,109,530.84. This represents a 5.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 380,750 shares of company stock valued at $2,645,333 over the last ninety days. Company insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Gould Capital LLC grew its holdings in shares of 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 acquiring an additional 2,507 shares in the last quarter. Strs Ohio acquired a new position in Archer Aviation during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd boosted its position 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 purchasing an additional 3,335 shares during the last quarter. Johnson Investment Counsel Inc. bought a new position in Archer Aviation in the third quarter valued at approximately $29,000. Finally, Modus Advisors LLC acquired a new position in shares of Archer Aviation during the 4th quarter worth approximately $29,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.