Archer Aviation (NYSE:ACHR) Trading Down 0.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 0.7% on Tuesday . The stock traded as low as $11.01 and last traded at $11.37. 21,553,725 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 38,994,430 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several brokerages have commented on ACHR. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald lifted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group increased their price objective on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.63.

Archer Aviation Trading Down 1.3 %

The stock has a market cap of $4.81 billion, a PE ratio of -8.56 and a beta of 3.15. The firm has a 50-day moving average price of $7.09 and a 200-day moving average price of $4.86. 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 posted its quarterly earnings results on Friday, November 8th. The company reported ($0.29) 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. As a group, equities analysts anticipate that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, Director Michael Spellacy sold 191,513 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $10.00, for a total transaction of $1,915,130.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the transaction, the chief technology officer now owns 1,120,360 shares in the company, valued at $10,083,240. This trade represents a 4.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders acquired 776,791 shares of company stock valued at $5,139,699 and sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds have recently modified their holdings of ACHR. Geode Capital Management LLC lifted its position in Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after purchasing an additional 268,896 shares in the last quarter. HBK Investments L P purchased a new position in shares of Archer Aviation during the 3rd quarter valued at about $6,818,000. Charles Schwab Investment Management Inc. grew its stake in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after acquiring an additional 94,430 shares during the period. Bank of New York Mellon Corp increased its holdings in Archer Aviation by 23.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after acquiring an additional 254,460 shares in the last quarter. Finally, Sora Investors LLC bought a new stake in Archer Aviation during the 3rd quarter worth approximately $3,429,000. 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.