Archer Aviation (NYSE:ACHR) Hits New 52-Week Low – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) shares hit a new 52-week low on Tuesday . The company traded as low as $5.47 and last traded at $5.4860, with a volume of 16055514 shares changing hands. The stock had previously closed at $5.89.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACHR shares. Weiss Ratings restated a “sell (d-)” rating on shares of Archer Aviation in a research note on Wednesday, January 21st. Needham & Company LLC dropped their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. The Goldman Sachs Group initiated coverage on Archer Aviation in a report on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.00.

Archer Aviation Stock Down 6.4%

The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -5.57 and a beta of 3.10. The business’s 50-day moving average is $7.18 and its 200-day moving average is $8.52. 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 quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $1.40 million. The business’s quarterly revenue was up 29900.0% compared to the same quarter last year. As a group, equities analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, insider Tosha Perkins sold 10,949 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $6.27, for a total transaction of $68,650.23. Following the sale, the insider directly owned 384,768 shares of the company’s stock, valued at $2,412,495.36. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Priya Gupta sold 7,263 shares of Archer Aviation stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $6.27, for a total value of $45,539.01. Following the transaction, the chief financial officer owned 178,512 shares of the company’s stock, valued at approximately $1,119,270.24. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 380,750 shares of company stock valued at $2,645,333. 7.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Archer Aviation

Several large investors have recently made changes to their positions in ACHR. Vanguard Group Inc. raised its position in 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 acquiring an additional 16,452,398 shares during the period. Norges Bank acquired a new stake in shares of Archer Aviation in the fourth quarter valued at about $58,494,000. Man Group plc increased its stake in shares of Archer Aviation by 13,793.3% during the second quarter. Man Group plc now owns 4,212,722 shares of the company’s stock worth $45,708,000 after purchasing an additional 4,182,400 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Archer Aviation by 423.3% during the fourth quarter. BNP Paribas Financial Markets now owns 5,126,217 shares of the company’s stock worth $38,549,000 after purchasing an additional 4,146,574 shares in the last quarter. Finally, ARK Investment Management LLC raised its position in shares of Archer Aviation by 12.4% during the 4th quarter. ARK Investment Management LLC now owns 35,170,701 shares of the company’s stock worth $264,484,000 after purchasing an additional 3,869,252 shares during the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.