Archer Aviation (NYSE:ACHR) Stock Price Down 5.5% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 5.5% during trading on Monday . The company traded as low as $9.30 and last traded at $9.43. 9,735,312 shares were traded during trading, a decline of 69% from the average session volume of 31,765,221 shares. The stock had previously closed at $9.97.

Analysts Set New Price Targets

Several research firms recently issued reports on ACHR. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Cantor Fitzgerald upped their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Canaccord Genuity Group upped 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The company has a market cap of $4.00 billion, a PE ratio of -7.10 and a beta of 3.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a 50-day moving average price of $8.70 and a two-hundred day moving average price of $5.41.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data 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 quarter in the prior year, the firm posted ($0.19) EPS. Sell-side analysts expect that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam D. Goldstein purchased 19,762 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $5.12 per share, with a total value of $101,181.44. Following the completion of the purchase, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the company. HBK Investments L P bought a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $6,818,000. Sora Investors LLC acquired a new stake in Archer Aviation in the third quarter worth $3,429,000. Yarbrough Capital LLC bought a new stake in Archer Aviation in the fourth quarter valued at $6,039,000. Stifel Financial Corp boosted its holdings in shares of Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after acquiring an additional 391,092 shares during the period. Finally, Barclays PLC grew its position in shares of Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during 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.