Archer Aviation (NYSE:ACHR) Shares Down 3.9% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares traded down 3.9% during mid-day trading on Wednesday . The company traded as low as $5.47 and last traded at $5.6150. 23,306,894 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 32,982,762 shares. The stock had previously closed at $5.84.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Monday, April 20th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Archer Aviation Stock Performance

The company’s 50-day moving average is $6.02 and its 200-day moving average is $7.69. The company has a current ratio of 19.89, a quick 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The company’s revenue for the quarter was up 29900.0% compared to the same quarter last year. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CFO Priya Gupta sold 7,263 shares of Archer Aviation stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total value of $45,539.01. Following the completion of the sale, the chief financial officer directly owned 178,512 shares in the company, valued at $1,119,270.24. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tosha Perkins sold 10,949 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $6.27, for a total transaction of $68,650.23. Following the transaction, the insider owned 384,768 shares in the company, valued at approximately $2,412,495.36. The trade was a 2.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 255,750 shares of company stock valued at $1,645,333 over the last quarter. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC boosted its stake in Archer Aviation by 476.7% in the first quarter. Hsbc Holdings PLC now owns 568,861 shares of the company’s stock valued at $2,928,000 after acquiring an additional 470,216 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of Archer Aviation by 64.9% in the 1st quarter. Kestra Advisory Services LLC now owns 79,039 shares of the company’s stock valued at $409,000 after purchasing an additional 31,111 shares during the period. Meridian Investment Counsel Inc. boosted its position in shares of Archer Aviation by 97.8% in the 1st quarter. Meridian Investment Counsel Inc. now owns 86,950 shares of the company’s stock worth $450,000 after purchasing an additional 43,000 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Archer Aviation by 76.8% in the 1st quarter. Bogart Wealth LLC now owns 13,837 shares of the company’s stock worth $72,000 after purchasing an additional 6,012 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Archer Aviation during the first quarter worth $237,000. 59.34% of the stock is 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.