Archer Aviation (NYSE:ACHR) Trading Down 1.3% – Here’s What Happened

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. 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, Archer Aviation has a consensus rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Up 2.3 %

The company has a market cap of $3.93 billion, a PE ratio of -7.00 and a beta of 3.15. The company has a fifty day moving average of $8.95 and a two-hundred day moving average of $5.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its quarterly 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 period in the previous year, the firm earned ($0.19) EPS. As a group, analysts anticipate that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The stock was 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 trade represents a 16.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

A number of institutional investors have recently modified their holdings of ACHR. GPS Wealth Strategies Group LLC lifted its position in Archer Aviation by 708.3% during 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 during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Archer Aviation by 25.6% during the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares during the last quarter. PFG Investments LLC boosted its position in shares of Archer Aviation by 16.3% in the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company’s stock worth $223,000 after purchasing an additional 3,192 shares in the last quarter. Tidal Investments LLC grew its stake in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after buying an additional 3,339 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock valued at $89,000 after buying an additional 3,341 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors.

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.