Archer Aviation (NYSE:ACHR) Shares Down 8.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price fell 8.7% during mid-day 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.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their price objective 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. Raymond James raised their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday. Canaccord Genuity Group decreased their target price on shares of Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Archer Aviation Stock Down 7.5 %

The company has a fifty day simple moving average of $9.66 and a 200-day simple moving average of $6.12. 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 firm has a market cap of $3.59 billion, a P/E ratio of -6.39 and a beta of 3.13.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,057,729 shares of company stock valued at $8,473,770 over the last ninety days. 9.75% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. bought a new stake in shares of Archer Aviation in the fourth quarter worth about $27,000. PharVision Advisers LLC purchased a new position in Archer Aviation during the 4th quarter valued at approximately $187,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Archer Aviation by 62.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock worth $5,446,000 after acquiring an additional 215,593 shares during the last quarter. Vident Advisory LLC purchased a new stake in shares of Archer Aviation during the 4th quarter worth approximately $186,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Archer Aviation in the fourth quarter valued at $2,877,000. Institutional investors 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.