15 Worst 52-Week Low Stocks to Buy Now According to Short Sellers

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3. Archer Aviation Inc. (NYSE:ACHR)

52 Week Range: $3 – $7.01

Current Share Price: $3.05

Short % of Shares Outstanding: 16.18%

Number of Hedge Funds holding stakes as of Q2 2024: 21

Archer Aviation Inc. (NYSE:ACHR) is an industrial company that designs, develops, and operates vertical takeoff of landing aircraft. The firm is also working on creating electric vertical takeoff and landing (eVTOL) planes. This puts the company in a good position to gain a lot from eco-friendly transportation that seeks to address the issue of urban mobility in today’s densely populated large cities.

However, Archer Aviation Inc. (NYSE:ACHR) has underperformed for the better part of 2024, going by its slide to 52-week lows. It is rated as one of the worst 52-week low stocks to buy now, according to short sellers, given its exposure to considerable regulatory risk as its products rely heavily on approval from the Federal Aviation Administration (FAA). Consequently, short interest on the stock has risen to 16.18%.

Amid the pessimism from short sellers, Archer Aviation Inc. (NYSE:ACHR) boasts a strong order backlog of $6 billion. This backlog offers insight into customer trust and demand for its offerings, bolstering Archer Aviation’s prospects. Additionally, the company successfully completed 400 test flights this year and secured a contract for manufacturing with the automotive behemoth Stellantis. In Q2 2024, 21 hedge fund portfolios held Archer Aviation Inc. (NYSE:ACHR), an increase from 20 in the previous quarter.

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