Archer Aviation (NYSE:ACHR) Trading Down 1.7% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 1.7% during mid-day trading on Thursday . The stock traded as low as $9.40 and last traded at $9.60. Approximately 6,139,038 shares changed hands during trading, a decline of 81% from the average daily volume of 31,933,744 shares. The stock had previously closed at $9.77.

Analyst Ratings Changes

ACHR has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Price Performance

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 stock’s fifty day simple moving average is $8.47 and its 200-day simple moving average is $5.32. The company has a market capitalization of $4.01 billion, a P/E ratio of -7.12 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 period in the prior year, the company posted ($0.19) earnings per share. On average, equities analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Adam D. Goldstein acquired 19,762 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $5.12 per share, for a total transaction of $101,181.44. Following the purchase, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were bought at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares in the last quarter. HBK Investments L P bought a new position in Archer Aviation during the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. increased its stake in Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Sora Investors LLC acquired a new position in shares of Archer Aviation during the third quarter valued at about $3,429,000. Finally, Intellectus Partners LLC boosted its position in shares of Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company’s stock worth $2,790,000 after purchasing an additional 11,800 shares in 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.