Archer Aviation (NYSE:ACHR) Trading Down 8.7% – Here’s What Happened

Archer Aviation Inc. (NYSE:ACHR) shares traded down 8.7% during trading on Monday . The company traded as low as $8.15 and last traded at $8.34. 18,024,075 shares were traded during trading, a decline of 45% from the average session volume of 32,590,834 shares. The stock had previously closed at $9.13.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a research note on Thursday, January 16th. Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Archer Aviation Price Performance

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 $3.49 billion, a price-to-earnings ratio of -6.21 and a beta of 3.14. The company has a 50-day moving average price of $9.63 and a 200-day moving average price of $6.18.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the sale, the chief technology officer now directly owns 1,120,360 shares in the company, valued at $10,083,240. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 1,057,729 shares of company stock worth $8,473,770 in the last 90 days. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently modified their holdings of ACHR. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during the fourth quarter worth about $27,000. Conquis Financial LLC bought a new stake in Archer Aviation in the 4th quarter valued at approximately $29,000. Oarsman Capital Inc. lifted its stake in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after acquiring an additional 2,547 shares in the last quarter. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC lifted its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.