Archer Aviation (NYSE:ACHR) Trading Down 5.1% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 5.1% during trading on Thursday . The company traded as low as $9.26 and last traded at $9.55. 19,547,553 shares were traded during mid-day trading, a decline of 39% from the average session volume of 32,208,227 shares. The stock had previously closed at $10.06.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft raised their price target on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday. Canaccord Genuity Group reduced their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Two investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.33.

Archer Aviation Stock Performance

The company’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $6.09. 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 $3.88 billion, a price-to-earnings ratio of -6.91 and a beta of 3.13.

Insider Activity

In other news, major shareholder N.V. Stellantis bought 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 1,057,729 shares of company stock valued at $8,473,770 over the last quarter. 9.75% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Several large investors have recently modified their holdings of the stock. ARK Investment Management LLC grew its position in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after buying an additional 6,371,647 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Archer Aviation by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 16,480,190 shares of the company’s stock worth $160,682,000 after purchasing an additional 2,908,859 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Archer Aviation by 14.2% in the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock worth $56,908,000 after purchasing an additional 724,736 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Archer Aviation by 158.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after purchasing an additional 3,064,280 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Archer Aviation in the 4th quarter worth $42,709,000. 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.