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

by · The Markets Daily

Archer Aviation Inc. (NYSE:ACHRGet Free Report)’s share price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.47 and last traded at $5.4860, with a volume of 16055514 shares. The stock had previously closed at $5.89.

Wall Street Analyst Weigh In

ACHR has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. The Goldman Sachs Group started coverage on shares of Archer Aviation in a research note on Monday, December 1st. They issued a “neutral” rating and a $11.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Archer Aviation in a research note on Monday, November 24th. Finally, Needham & Company LLC reduced their price target on Archer Aviation from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Read Our Latest Analysis on ACHR

Archer Aviation Price Performance

The stock has a market capitalization of $4.11 billion, a PE ratio of -5.57 and a beta of 3.10. The company has a quick ratio of 19.89, a current ratio of 19.89 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $7.18 and its 200-day moving average price is $8.52.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $1.40 million. The company’s quarterly revenue was up 29900.0% on a year-over-year basis. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 54,786 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $6.46, for a total transaction of $353,917.56. Following the transaction, the insider owned 377,022 shares in the company, valued at approximately $2,435,562.12. This trade represents a 12.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Priya Gupta sold 10,172 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $6.46, for a total transaction of $65,711.12. Following the transaction, the chief financial officer directly owned 171,754 shares in the company, valued at $1,109,530.84. This trade represents a 5.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 380,750 shares of company stock worth $2,645,333. 7.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in Archer Aviation in the 1st quarter worth approximately $293,000. Integrated Wealth Concepts LLC increased its stake in Archer Aviation by 11.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 13,770 shares of the company’s stock valued at $98,000 after purchasing an additional 1,373 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Archer Aviation by 44.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 192,164 shares of the company’s stock valued at $1,366,000 after purchasing an additional 59,317 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Archer Aviation by 5.1% in the first quarter. NewEdge Advisors LLC now owns 35,739 shares of the company’s stock worth $254,000 after buying an additional 1,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Archer Aviation by 51.1% during 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 buying an additional 285,414 shares during the period. Institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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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