Archer Aviation (NYSE:ACHR) Trading Down 1.7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) was down 1.7% on Thursday . The stock traded as low as $9.40 and last traded at $9.60. Approximately 6,139,038 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 31,933,744 shares. The stock had previously closed at $9.77.

Wall Street Analyst Weigh In

Several brokerages have commented on ACHR. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Cantor Fitzgerald raised 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. HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group raised their price target on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Performance

The firm has a market cap of $4.01 billion, a P/E ratio of -7.12 and a beta of 3.15. 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 business has a fifty day simple moving average of $8.47 and a 200-day simple moving average of $5.32.

Archer Aviation (NYSE:ACHR) last released its 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 period last year, the company earned ($0.19) earnings per share. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In related 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 transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder N.V. Stellantis purchased 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Miller Wealth Advisors LLC purchased a new stake in shares of Archer Aviation during the third quarter valued at $26,000. Versant Capital Management Inc increased its holdings in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock worth $78,000 after buying an additional 3,430 shares during the period. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at $30,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Archer Aviation in the third quarter worth $31,000. Finally, Sara Bay Financial purchased a new position in shares of Archer Aviation during the fourth quarter worth $104,000. Hedge funds and other institutional investors 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.