Archer Aviation (NYSE:ACHR) Trading Down 3.2% – Here’s Why

Shares of Archer Aviation Inc. (NYSE:ACHR) traded down 3.2% on Monday . The stock traded as low as $8.78 and last traded at $8.80. 27,394,284 shares were traded during trading, a decline of 36% from the average session volume of 43,078,868 shares. The stock had previously closed at $9.09.

Analyst Upgrades and Downgrades

A number of research firms have commented on ACHR. Deutsche Bank Aktiengesellschaft increased their price target on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Stock Performance

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $5.29. The stock has a market capitalization of $4.11 billion, a PE ratio of -7.33 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, equities research analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz acquired 5,150 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. This represents a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of large investors have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new position in Archer Aviation during the third quarter worth about $26,000. Versant Capital Management Inc grew its holdings in shares of Archer Aviation by 74.3% in the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares during the period. Code Waechter LLC acquired a new stake in Archer Aviation during the third quarter worth about $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation during the third quarter worth about $31,000. Finally, Sara Bay Financial acquired a new stake in shares of Archer Aviation during the 4th quarter worth approximately $104,000. 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.