Archer Aviation (NYSE:ACHR) Stock Price Down 2.1% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) dropped 2.1% on Wednesday . The company traded as low as $4.88 and last traded at $5.02. Approximately 12,748,613 shares traded hands during trading, an increase of 47% from the average daily volume of 8,699,091 shares. The stock had previously closed at $5.13.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Needham & Company LLC started coverage on shares of Archer Aviation in a research report on Tuesday. They set a “buy” rating and a $11.00 price objective for the company. HC Wainwright initiated coverage on Archer Aviation in a research report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. Benchmark reiterated a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Archer Aviation Trading Down 4.3 %

The firm has a market cap of $2.09 billion, a PE ratio of -3.80 and a beta of 2.29. The company’s fifty day moving average price is $3.34 and its two-hundred day moving average price is $3.62. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) earnings per share. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

Several large investors have recently bought and sold shares of ACHR. Axxcess Wealth Management LLC lifted its stake in Archer Aviation by 48.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after buying an additional 9,713 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Archer Aviation during the first quarter valued at $117,000. Cetera Advisors LLC purchased a new stake in Archer Aviation during the 1st quarter worth about $80,000. CWM LLC increased its position in Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Blair William & Co. IL acquired a new position in Archer Aviation in the 1st quarter valued at about $266,000. 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.