Archer Aviation (NYSE:ACHR) Stock Price Down 1.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price traded down 1.7% during trading on Friday . The stock traded as low as $9.00 and last traded at $9.00. 15,605,336 shares were traded during trading, a decline of 43% from the average session volume of 27,545,693 shares. The stock had previously closed at $9.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACHR shares. Canaccord Genuity Group boosted their price target on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Archer Aviation in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a report on Monday, December 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Stock Down 1.5 %

The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -6.83 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. The firm’s 50-day simple moving average is $9.21 and its two-hundred day simple moving average is $5.67.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data 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 last year, the company posted ($0.19) earnings per share. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, 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. Over the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Several large investors have recently bought and sold shares of the business. GPS Wealth Strategies Group LLC raised its position in Archer Aviation by 708.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after purchasing an additional 2,975 shares during the last quarter. US Bancorp DE boosted its position in Archer Aviation by 2,725.3% during the 4th quarter. US Bancorp DE now owns 4,464 shares of the company’s stock worth $44,000 after buying an additional 4,306 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Archer Aviation during the 4th quarter worth approximately $49,000. Amalgamated Bank increased its position in Archer Aviation by 50.7% in the 4th quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock valued at $78,000 after acquiring an additional 2,680 shares during the period. Finally, Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation during the third quarter valued at $26,000. 59.34% of the stock is owned by institutional investors and hedge funds.

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.