Archer Aviation (NYSE:ACHR) Trading Down 0.3% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 0.3% during trading on Thursday . The stock traded as low as $8.97 and last traded at $9.01. Approximately 6,414,148 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 29,418,145 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft boosted their target price on 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 set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group upped their price objective on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Performance

The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -7.00 and a beta of 3.15. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $8.95 and a 200-day moving average of $5.50.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter last year, the business earned ($0.19) earnings per share. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Thomas Paul Muniz sold 438,428 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total transaction of $3,327,668.52. Following the transaction, the chief technology officer now owns 1,170,360 shares in the company, valued at $8,883,032.40. This trade represents a 27.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Several institutional investors have recently modified their holdings of ACHR. GPS Wealth Strategies Group LLC boosted its position in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after acquiring an additional 2,975 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Archer Aviation in the fourth quarter worth approximately $49,000. Miller Wealth Advisors LLC acquired a new stake in Archer Aviation during the third quarter worth $26,000. Versant Capital Management Inc raised its position in Archer Aviation by 74.3% in the fourth quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares during the period. Finally, Code Waechter LLC purchased a new stake in Archer Aviation in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds 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.