Archer Aviation (NYSE:ACHR) Shares Down 2.1% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) fell 2.1% on Thursday . The company traded as low as $7.30 and last traded at $7.32. 15,186,425 shares changed hands during trading, a decline of 53% from the average session volume of 32,040,793 shares. The stock had previously closed at $7.48.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ACHR shares. HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. JPMorgan Chase & Co. downgraded 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 research report on Friday, January 10th. Needham & Company LLC upped their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a report on Friday, February 28th. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target 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. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Archer Aviation has an average rating of “Moderate Buy” and an average target price of $11.61.

Archer Aviation Trading Down 3.1 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.93 billion, a PE ratio of -5.50 and a beta of 3.14. The stock’s fifty day simple moving average is $9.13 and its two-hundred day simple moving average is $6.47.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Transactions at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This trade represents a 8.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $332,871.00. Following the transaction, the general counsel now owns 53,225 shares of the company’s stock, valued at $409,832.50. This represents a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 545,498 shares of company stock worth $4,920,815 in the last quarter. Company insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Archer Aviation during the 4th quarter worth about $27,000. Conquis Financial LLC purchased a new position in Archer Aviation during the fourth quarter valued at approximately $29,000. Harbour Investments Inc. boosted its stake in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Oarsman Capital Inc. lifted its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC raised its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

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.