Archer Aviation (NYSE:ACHR) Shares Down 4.6% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 4.6% during mid-day trading on Tuesday . The company traded as low as $7.40 and last traded at $7.52. Approximately 11,521,874 shares traded hands during trading, a decline of 65% from the average daily volume of 33,081,121 shares. The stock had previously closed at $7.88.

Analyst Ratings Changes

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

Archer Aviation Trading Up 1.2 %

The business’s fifty day moving average is $9.56 and its 200-day moving average is $6.31. The firm has a market cap of $3.39 billion, a P/E ratio of -6.04 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

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

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The stock was bought at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the sale, the chief technology officer now directly owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 907,729 shares of company stock valued at $7,513,770. 9.75% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Hedge funds have recently bought and sold shares of the business. Creative Planning increased its position in shares of Archer Aviation by 74.1% during the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after acquiring an additional 12,278 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares during the last quarter. Vestor Capital LLC bought a new position in shares of Archer Aviation in the third quarter valued at approximately $61,000. Miller Wealth Advisors LLC purchased a new position in shares of Archer Aviation during the third quarter valued at approximately $26,000. Finally, Intellectus Partners LLC boosted its position in shares of Archer Aviation by 1.3% during the third quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock valued at $2,790,000 after buying an additional 11,800 shares during the last quarter. Institutional investors and hedge funds 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.