Archer Aviation (NYSE:ACHR) Stock Price Down 3.9% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 3.9% during trading on Tuesday . The stock traded as low as $8.63 and last traded at $8.59. 5,977,233 shares changed hands during trading, a decline of 69% from the average session volume of 19,082,093 shares. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of research reports. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC lifted their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Trading Down 2.6 %

The business’s 50-day simple moving average is $8.81 and its two-hundred day simple moving average is $6.76. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.72 billion, a PE ratio of -6.58 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 49,273 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 303,985 shares of company stock worth $2,555,685. 9.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

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