Archer Aviation (NYSE:ACHR) Trading Down 3.4% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price was down 3.4% during trading on Thursday . The company traded as low as $7.57 and last traded at $7.85. Approximately 7,959,105 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 32,643,453 shares. The stock had previously closed at $8.13.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACHR. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $6.00 to $9.00 in a research report on Friday, January 10th. Raymond James boosted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research report on Friday, February 28th. 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. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.61.

Archer Aviation Price Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -5.70 and a beta of 3.14. The business has a fifty day moving average of $9.38 and a two-hundred day moving average of $6.36.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, General Counsel Eric Lentell sold 43,230 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $332,871.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $479,386.60. Following the completion of the transaction, the chief financial officer now directly owns 630,243 shares of the company’s stock, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,046,926 shares of company stock valued at $8,695,783. 9.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Sunbelt Securities Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation in the fourth quarter valued at $29,000. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its stake in shares of Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

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.