Archer Aviation (NYSE:ACHR) Stock Price Down 5.7% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) shares fell 5.7% on Thursday . The company traded as low as $10.06 and last traded at $10.50. 34,972,875 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 41,821,750 shares. The stock had previously closed at $11.14.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ACHR shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research report on Friday. Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Price Performance

The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of -6.78 and a beta of 3.15. The company has a fifty day simple moving average of $7.54 and a two-hundred day simple moving average of $4.99. 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 earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the business earned ($0.19) EPS. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 751,879 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Large investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation during the third quarter worth $26,000. Code Waechter LLC purchased a new stake in Archer Aviation during the 3rd quarter worth $30,000. Azzad Asset Management Inc. ADV purchased a new stake in Archer Aviation during the 3rd quarter worth $31,000. Hollencrest Capital Management lifted its holdings in Archer Aviation by 50.0% in the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after buying an additional 3,000 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in Archer Aviation in the 3rd quarter valued at about $36,000. 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.