Archer Aviation (NYSE:ACHR) Stock Price Down 4.9% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) were down 4.9% during mid-day trading on Friday . The stock traded as low as $4.05 and last traded at $4.08. Approximately 5,978,015 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 8,474,855 shares. The stock had previously closed at $4.29.

Analysts Set New Price Targets

ACHR has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price target on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright assumed coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. JPMorgan Chase & Co. lifted their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Price Performance

The business has a 50-day moving average of $3.26 and a 200 day moving average of $3.62. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.09 and a beta of 2.29. The company has a current ratio of 6.03, a quick ratio of 4.49 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released 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 in the previous year, the company posted ($0.19) earnings per share. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACHR. Janney Montgomery Scott LLC raised its stake in shares of Archer Aviation by 266.5% in the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after purchasing an additional 30,075 shares during the last quarter. Swiss National Bank lifted its stake in Archer Aviation by 2.3% during the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock valued at $1,740,000 after acquiring an additional 8,500 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after acquiring an additional 8,717 shares during the last quarter. Blair William & Co. IL bought a new stake in shares of Archer Aviation in the 1st quarter worth $266,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Archer Aviation in the first quarter valued at about $117,000. Institutional investors and hedge funds 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.