Archer Aviation (NYSE:ACHR) Trading Down 1.8% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) dropped 1.8% on Wednesday . The company traded as low as $8.50 and last traded at $8.64. Approximately 4,029,375 shares were traded during trading, a decline of 79% from the average daily volume of 19,055,085 shares. The stock had previously closed at $8.79.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Canaccord Genuity Group raised their price objective on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and increased their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC raised their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a market capitalization of $4.02 billion, a PE ratio of -5.69 and a beta of 3.14. The firm’s 50 day moving average is $8.78 and its two-hundred day moving average is $6.81.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, research analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In other news, General Counsel Eric Lentell sold 43,230 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the sale, the general counsel now owns 53,225 shares in the company, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark Mesler sold 62,258 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ACHR. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $29,000. Harbour Investments Inc. grew its holdings in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares during the period. Oarsman Capital Inc. increased its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC increased its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Archer Aviation

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.