Archer Aviation (NYSE:ACHR) Shares Down 3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 3% on Monday . The company traded as low as $4.80 and last traded at $4.9380. Approximately 33,448,115 shares changed hands during trading, a decline of 7% from the average daily volume of 35,898,078 shares. The stock had previously closed at $5.09.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several research reports. Needham & Company LLC cut their price objective on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group assumed coverage on Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Archer Aviation Trading Down 3.0%

The business’s 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $8.43. The company has a current ratio of 19.89, a quick ratio of 19.89 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $3.68 billion, a PE ratio of -4.99 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 firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.40 million. The business’s revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity at Archer Aviation

In other news, CAO Harsh Rungta sold 22,826 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $147,455.96. Following the completion of the sale, the chief accounting officer owned 65,458 shares of the company’s stock, valued at approximately $422,858.68. This trade represents a 25.86% 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 7,263 shares of Archer Aviation stock in a transaction on Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $45,539.01. Following the completion of the sale, the chief financial officer owned 178,512 shares of the company’s stock, valued at approximately $1,119,270.24. This trade represents a 3.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 380,750 shares of company stock worth $2,645,333 over the last ninety days. Company insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Archer Aviation by 45.8% during the third quarter. Vanguard Group Inc. now owns 52,363,259 shares of the company’s stock worth $501,640,000 after purchasing an additional 16,452,398 shares during the last quarter. Norges Bank acquired a new position in Archer Aviation in the fourth quarter worth about $58,494,000. Man Group plc increased its holdings in Archer Aviation by 13,793.3% in the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock valued at $45,708,000 after buying an additional 4,182,400 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock valued at $38,549,000 after buying an additional 4,146,574 shares in the last quarter. Finally, ARK Investment Management LLC raised its stake in Archer Aviation by 12.4% during the fourth quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock valued at $264,484,000 after buying an additional 3,869,252 shares in the last quarter. 59.34% of the stock is currently owned by 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.