Archer Aviation (NYSE:ACHR) Stock Price Down 2.6% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) fell 2.6% on Tuesday . The company traded as low as $7.98 and last traded at $8.09. 6,410,878 shares were traded during trading, a decline of 66% from the average session volume of 18,663,295 shares. The stock had previously closed at $8.31.

Analyst Ratings Changes

A number of brokerages recently weighed in on ACHR. Cantor Fitzgerald lifted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Trading Up 3.0 %

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’s 50-day simple moving average is $8.85 and its 200 day simple moving average is $6.62. The stock has a market capitalization of $4.53 billion, a P/E ratio of -6.33 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. Equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the transaction, the insider now owns 232,396 shares of the company’s stock, valued at $1,789,449.20. The trade was a 17.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation 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 transaction, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System grew its stake in Archer Aviation by 26.2% during the 4th quarter. California State Teachers Retirement System now owns 241,396 shares of the company’s stock valued at $2,354,000 after acquiring an additional 50,104 shares in the last quarter. Total Wealth Planning & Management Inc. purchased a new position in Archer Aviation during the 4th quarter valued at about $450,000. Infinitum Asset Management LLC purchased a new position in Archer Aviation during the 4th quarter valued at about $10,844,000. Sunbelt Securities Inc. purchased a new position in Archer Aviation during the 4th quarter valued at about $27,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Archer Aviation during the 4th quarter valued at about $187,000. Hedge funds and other institutional investors 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.