Archer Aviation (NYSE:ACHR) Trading Down 1.3% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) dropped 1.3% during mid-day trading on Tuesday . The stock traded as low as $8.92 and last traded at $9.04. Approximately 5,763,307 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 31,111,707 shares. The stock had previously closed at $9.16.

Analysts Set New Price Targets

A number of analysts have commented on the company. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price target 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 objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Up 2.3 %

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 firm has a market cap of $3.93 billion, a price-to-earnings ratio of -7.00 and a beta of 3.15. The business’s 50 day moving average price is $8.95 and its 200 day moving average price is $5.50.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results 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 prior year, the business posted ($0.19) EPS. On average, equities analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Activity at Archer Aviation

In related news, Director Deborah Diaz bought 5,150 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. This represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors have recently bought and sold shares of the company. Palumbo Wealth Management LLC lifted its position in shares of Archer Aviation by 160.6% in the fourth quarter. Palumbo Wealth Management LLC now owns 53,897 shares of the company’s stock valued at $525,000 after acquiring an additional 33,217 shares in the last quarter. Rhumbline Advisers raised its stake in Archer Aviation by 2.1% in the 4th quarter. Rhumbline Advisers now owns 312,322 shares of the company’s stock valued at $3,045,000 after purchasing an additional 6,536 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Archer Aviation in the 4th quarter valued at $49,000. Entropy Technologies LP acquired a new stake in Archer Aviation during the 4th quarter worth $371,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Archer Aviation during the fourth quarter worth $296,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.