Archer Aviation (NYSE:ACHR) Stock Price Down 1.5% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded down 1.5% on Tuesday . The stock traded as low as $3.15 and last traded at $3.19. 2,023,473 shares changed hands during trading, a decline of 74% from the average session volume of 7,692,226 shares. The stock had previously closed at $3.24.

Analysts Set New Price Targets

Several equities research analysts have commented on ACHR shares. JPMorgan Chase & Co. boosted their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Finally, HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Stock Down 0.6 %

The firm’s 50-day moving average price is $3.18 and its two-hundred day moving average price is $3.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The firm has a market cap of $1.14 billion, a PE ratio of -2.61 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the transaction, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.80% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Large investors have recently bought and sold shares of the stock. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation in the third quarter valued at about $26,000. Code Waechter LLC acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV bought a new stake in shares of Archer Aviation in the third quarter valued at about $31,000. Hollencrest Capital Management boosted its stake in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after buying an additional 3,000 shares during the period. Finally, CWM LLC increased its position in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. 59.34% of the stock is currently owned by institutional investors.

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.