Archer Aviation (NYSE:ACHR) Shares Down 0.1% – Time to Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded down 0.1% during trading on Thursday . The stock traded as low as $8.18 and last traded at $8.35. 5,572,225 shares were traded during trading, a decline of 70% from the average session volume of 18,758,829 shares. The stock had previously closed at $8.36.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ACHR shares. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Needham & Company LLC lifted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, Raymond James lifted their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Stock Down 1.5 %

The stock’s 50-day moving average price is $8.85 and its two-hundred day moving average price is $6.62. The stock has a market capitalization of $4.47 billion, a PE ratio of -6.27 and a beta of 3.14. 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 released its 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. As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, CTO Thomas Paul Muniz sold 50,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 303,985 shares of company stock worth $2,555,685 in the last quarter. Corporate insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its stake in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after purchasing an additional 312,440 shares during the period. Private Advisor Group LLC lifted its stake in shares of Archer Aviation by 253.4% in the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company’s stock worth $501,000 after purchasing an additional 36,840 shares during the period. HBK Investments L P bought a new position in shares of Archer Aviation in the 3rd quarter worth approximately $6,818,000. ARK Investment Management LLC increased its holdings in Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after acquiring an additional 6,371,647 shares in the last quarter. Finally, Yarbrough Capital LLC purchased a new stake in Archer Aviation in the 4th quarter worth approximately $6,039,000. 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.