Archer Aviation (NYSE:ACHR) Stock Price Down 2.7% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares fell 2.7% during trading on Monday . The company traded as low as $6.91 and last traded at $7.07. 9,391,078 shares were traded during mid-day trading, a decline of 52% from the average session volume of 19,433,525 shares. The stock had previously closed at $7.26.

Analyst Ratings Changes

ACHR has been the topic of a number of research reports. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Needham & Company LLC raised their price objective on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Trading Down 2.2 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of -5.27 and a beta of 3.14. The firm’s fifty day moving average is $8.67 and its 200-day moving average is $6.94.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. Equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Tosha Perkins sold 33,335 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now owns 262,673 shares of the company’s stock, valued at $1,849,217.92. This represents a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. The trade was a 8.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 474,780 shares of company stock worth $3,758,081. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the company. Barclays PLC increased its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Archer Aviation by 24.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company’s stock worth $22,206,000 after acquiring an additional 446,864 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after acquiring an additional 36,840 shares during the last quarter. ARK Investment Management LLC lifted its position in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock valued at $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Finally, Yarbrough Capital LLC acquired a new position in Archer Aviation during the 4th quarter valued at about $6,039,000. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Company Profile

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.