Archer Aviation (NYSE:ACHR) Shares Gap Down – Here’s Why

Archer Aviation Inc. (NYSE:ACHR) shares gapped down before the market opened on Friday . The stock had previously closed at $7.92, but opened at $6.74. Archer Aviation shares last traded at $8.10, with a volume of 11,914,359 shares changing hands.

Wall Street Analyst Weigh In

ACHR has been the subject of several analyst reports. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. Raymond James boosted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday. Finally, Needham & Company LLC raised their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Trading Up 12.0 %

The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -6.72 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The business has a fifty day moving average price of $9.60 and a 200 day moving average price of $6.20.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. As a group, equities analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the stock in a transaction on Wednesday, December 11th. The stock was purchased at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the transaction, the insider now directly owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 over the last ninety days. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACHR. Total Wealth Planning & Management Inc. purchased a new position in Archer Aviation in the 4th quarter valued at about $450,000. Infinitum Asset Management LLC acquired a new position in shares of Archer Aviation in the fourth quarter worth about $10,844,000. Sunbelt Securities Inc. purchased a new position in Archer Aviation in the fourth quarter valued at about $27,000. PharVision Advisers LLC acquired a new stake in shares of Archer Aviation during the fourth quarter worth approximately $187,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Archer Aviation by 62.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,603 shares of the company’s stock valued at $5,446,000 after acquiring an additional 215,593 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.