Archer Aviation (NYSE:ACHR) Trading Down 3.2% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 3.2% during mid-day trading on Monday . The stock traded as low as $8.65 and last traded at $9.15. 12,251,380 shares changed hands during trading, a decline of 58% from the average session volume of 29,058,059 shares. The stock had previously closed at $9.45.

Analysts Set New Price Targets

Several equities analysts have commented on ACHR shares. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -6.97 and a beta of 3.14. The business’s 50 day simple moving average is $9.09 and its 200-day simple moving average is $5.56.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the business posted ($0.19) EPS. On average, research analysts forecast that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Adam D. Goldstein bought 19,762 shares of the stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of $5.12 per share, with a total value of $101,181.44. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their position. The disclosure for this purchase can be found here. In 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 owned by corporate insiders.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Miller Wealth Advisors LLC bought a new position in Archer Aviation in the 3rd quarter valued at approximately $26,000. Code Waechter LLC acquired a new position in Archer Aviation in the 3rd quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the third quarter valued at $31,000. GPS Wealth Strategies Group LLC lifted its holdings in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after purchasing an additional 2,975 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Archer Aviation in the third quarter worth $36,000. 59.34% of the stock is currently owned by institutional investors.

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.