Archer Aviation (NYSE:ACHR) Stock Price Down 3.2% - Time to Sell?

Key Points

• Shares of Archer Aviation fell 3.2% to about $8.14 on Tuesday with roughly 29.8 million shares traded, below the recent average volume, after closing at $8.40 the prior session.
• Wall Street sentiment is mixed but tilted positive — the consensus rating is "Moderate Buy" with a consensus price target of $12.14, following several analyst price-target revisions and new coverage.
• Corporate insiders have been net sellers recently (182,635 shares sold in the last 90 days) even as institutional ownership is high (~59%), highlighting conflicting signals between insiders and large investors.

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares dropped 3.2% on Tuesday . The company traded as low as $8.10 and last traded at $8.1350. Approximately 29,783,496 shares were traded during trading, a decline of 25% from the average daily volume of 39,479,391 shares. The stock had previously closed at $8.40.

Wall Street Analysts Forecast Growth

ACHR has been the subject of a number of research reports. The Goldman Sachs Group started coverage on Archer Aviation in a research report on Monday, December 1st. They set a "neutral" rating and a $11.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Archer Aviation from $10.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, November 7th. 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. Canaccord Genuity Group raised their price target on shares of Archer Aviation from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, November 21st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Archer Aviation in a research note on Wednesday, October 8th. Six 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.14.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 18.19 and a current ratio of 18.19. The firm has a market capitalization of $5.30 billion, a PE ratio of -6.46 and a beta of 3.10. The firm's 50 day moving average price is $9.11 and its 200-day moving average price is $9.83.

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

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 45,018 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.49, for a total transaction of $337,184.82. Following the transaction, the insider directly owned 334,632 shares of the company's stock, valued at $2,506,393.68. This trade represents a 11.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Priya Gupta sold 5,479 shares of the business's stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the sale, the chief financial officer directly owned 161,523 shares of the company's stock, valued at $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. In the last 90 days, insiders sold 182,635 shares of company stock valued at $1,367,936. Corporate insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings 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 valued at $501,640,000 after acquiring an additional 16,452,398 shares during the last quarter. Man Group plc increased its position 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. Geode Capital Management LLC raised its stake in Archer Aviation by 44.1% in the 2nd quarter. Geode Capital Management LLC now owns 11,991,714 shares of the company's stock valued at $130,125,000 after purchasing an additional 3,671,753 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Archer Aviation by 435.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 3,750,000 shares of the company's stock valued at $40,688,000 after purchasing an additional 3,050,000 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Archer Aviation by 466.5% in the 2nd quarter. Invesco Ltd. now owns 3,650,429 shares of the company's stock valued at $39,607,000 after purchasing an additional 3,006,039 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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