Archer Aviation (NYSE:ACHR) Shares Gap Down – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $9.45, but opened at $8.81. Archer Aviation shares last traded at $8.86, with a volume of 7,396,833 shares.

Analyst Ratings Changes

ACHR has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their price target 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. Canaccord Genuity Group increased their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. JPMorgan Chase & Co. cut Archer Aviation from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The company’s 50-day moving average is $9.16 and its two-hundred day moving average is $5.62. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the company posted ($0.19) earnings per share. Analysts predict that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares of the company’s stock, valued at $12,844,320. The trade was a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now owns 4,197,136 shares of the company’s stock, valued at $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 bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the 3rd quarter valued at $26,000. Code Waechter LLC bought a new stake in shares of Archer Aviation during the 3rd quarter valued at about $30,000. Azzad Asset Management Inc. ADV purchased a new position in shares of Archer Aviation during the third quarter valued at about $31,000. GPS Wealth Strategies Group LLC raised its position in shares of Archer Aviation by 708.3% in the 4th 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 in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of Archer Aviation during the third quarter valued at approximately $36,000. 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.