Archer Aviation (NYSE:ACHR) Stock Price Down 0.5% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 0.5% during mid-day trading on Wednesday . The stock traded as low as $9.08 and last traded at $9.12. 6,034,540 shares were traded during trading, a decline of 80% from the average session volume of 30,271,029 shares. The stock had previously closed at $9.16.

Wall Street Analysts Forecast Growth

ACHR has been the subject of several analyst reports. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Archer Aviation currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Down 1.1 %

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 business has a 50 day moving average of $8.87 and a 200-day moving average of $5.47. The stock has a market cap of $3.85 billion, a PE ratio of -6.79 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the previous year, the firm earned ($0.19) earnings per share. Equities research analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, December 3rd. The stock was 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. The trade was a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of ACHR. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the third quarter worth about $26,000. Code Waechter LLC acquired a new position in Archer Aviation during the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the 3rd quarter worth approximately $31,000. GPS Wealth Strategies Group LLC grew its position in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new stake in shares of Archer Aviation during the third quarter valued at approximately $36,000. 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.