Archer Aviation (NYSE:ACHR) Shares Down 2.5% - What's Next?

Key Points

• Archer shares fell 2.5% mid-day to $7.6920, with about 17.09 million shares traded (roughly 56% below the 39.21M average), giving the company a market cap of $5.01 billion.
• Analysts hold a consensus Moderate Buy rating with an average price target of $12.14 (six Buys, two Holds, one Sell); recent changes include Needham cutting its target to $10, Canaccord raising to $13, and Goldman initiating at Neutral with an $11 target.
• Insiders have been selling recently — the CTO sold 90,648 shares and the CFO 5,479 on Nov. 17, with 182,635 insider shares sold over 90 days (insiders own 7.65%) while institutional investors own 59.34% of the stock.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares dropped 2.5% during mid-day trading on Monday . The company traded as low as $7.65 and last traded at $7.6920. Approximately 17,093,792 shares traded hands during trading, a decline of 56% from the average daily volume of 39,210,906 shares. The stock had previously closed at $7.89.

Wall Street Analysts Forecast Growth

ACHR has been the topic of several research reports. Needham & Company LLC dropped their target price on Archer Aviation from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, November 7th. Cantor Fitzgerald restated an "overweight" rating on shares of Archer Aviation in a report on Monday, November 24th. Canaccord Genuity Group raised their price objective 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Archer Aviation in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research note on Monday, December 1st. They set a "neutral" rating and a $11.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.14.

Archer Aviation Trading Down 2.5%

The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -6.10 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $8.77 and a two-hundred day moving average of $9.74.

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

Insider Activity

In related news, CTO Thomas Paul Muniz sold 90,648 shares of Archer Aviation stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $678,953.52. Following the transaction, the chief technology officer owned 1,397,129 shares in the company, valued at $10,464,496.21. This trade represents a 6.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Priya Gupta sold 5,479 shares of the business's stock in a transaction on Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares of the company's stock, valued at approximately $1,209,807.27. This represents a 3.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 182,635 shares of company stock valued at $1,367,936. 7.65% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. Strs Ohio bought a new position in Archer Aviation in the 1st quarter worth approximately $27,000. AlphaQuest LLC grew its stake in shares of Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company's stock worth $28,000 after acquiring an additional 2,375 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Archer Aviation in the third quarter worth $29,000. Bank of Jackson Hole Trust increased its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company's stock worth $30,000 after acquiring an additional 986 shares during the period. Finally, GAMMA Investing LLC increased its position in Archer Aviation by 219.5% during the second quarter. GAMMA Investing LLC now owns 2,946 shares of the company's stock worth $32,000 after acquiring an additional 2,024 shares during the period. 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.

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