Archer Aviation (NYSE:ACHR) Shares Down 3.8% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) were down 3.8% during mid-day trading on Friday . The stock traded as low as $7.13 and last traded at $7.28. Approximately 8,563,022 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 32,389,422 shares. The stock had previously closed at $7.56.

Analysts Set New Price Targets

ACHR has been the topic of a number of research analyst reports. Raymond James upped their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Needham & Company LLC upped their target price on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Finally, Cantor Fitzgerald raised their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Trading Down 0.5 %

The business has a fifty day moving average of $9.30 and a 200-day moving average of $6.40. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The company has a market capitalization of $3.20 billion, a P/E ratio of -5.70 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data 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 anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 99,224 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares of the company’s stock, valued at approximately $8,712,111.10. The trade was a 8.06 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,046,926 shares of company stock worth $8,695,783. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $27,000. Conquis Financial LLC bought a new position in Archer Aviation in the 4th quarter valued at $29,000. Harbour Investments Inc. increased its position in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. raised its stake in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the period. Finally, Anchor Investment Management LLC boosted its holdings in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares during the last quarter. 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.