Archer Aviation (NYSE:ACHR) Shares Down 1.3% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $8.92 and last traded at $9.04. 5,763,307 shares traded 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.

Wall Street Analyst Weigh In

ACHR has been the topic of several research reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The company has a 50-day moving average of $8.79 and a two-hundred day moving average of $5.44. 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 stock has a market capitalization of $3.89 billion, a PE ratio of -6.94 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its 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 quarter in the previous year, the firm posted ($0.19) EPS. Sell-side analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Archer Aviation during the fourth quarter valued at approximately $49,000. Entropy Technologies LP acquired a new stake in Archer Aviation during the 4th quarter valued at $371,000. Apollon Wealth Management LLC purchased a new stake in Archer Aviation during the 4th quarter worth $296,000. Sargent Investment Group LLC increased its stake in Archer Aviation by 21.0% during the 4th quarter. Sargent Investment Group LLC now owns 288,030 shares of the company’s stock worth $2,808,000 after buying an additional 49,900 shares during the period. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other 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.