Archer Aviation (NYSE:ACHR) Trading Down 6.8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price dropped 6.8% during mid-day trading on Monday . The stock traded as low as $8.00 and last traded at $8.0270. Approximately 31,285,062 shares changed hands during trading, a decline of 35% from the average daily volume of 47,833,836 shares. The stock had previously closed at $8.61.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. 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 target for the company. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Wednesday, January 14th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, November 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research report on Monday, November 24th. Six equities research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.14.

Archer Aviation Price Performance

The business’s 50 day simple moving average is $8.15 and its two-hundred day simple moving average is $9.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share for the quarter, meeting the consensus estimate of ($0.20). Equities research analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 125,000 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $8.00, for a total transaction of $1,000,000.00. Following the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at $10,177,032. This represents a 8.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Priya Gupta sold 5,479 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total value of $41,037.71. Following the completion of the sale, the chief financial officer owned 161,523 shares of the company’s stock, valued at $1,209,807.27. The trade was a 3.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 307,635 shares of company stock worth $2,367,936 over the last three months. Company insiders own 7.65% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new stake in Archer Aviation during the 1st quarter valued at $293,000. Integrated Wealth Concepts LLC grew its holdings in shares of Archer Aviation by 11.1% in the first quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock worth $98,000 after acquiring an additional 1,373 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Archer Aviation by 44.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after acquiring an additional 59,317 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock valued at $254,000 after acquiring an additional 1,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Archer Aviation by 51.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 844,017 shares of the company’s stock worth $6,001,000 after purchasing an additional 285,414 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.