Archer Aviation (NYSE:ACHR) Shares Down 4.9% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares traded down 4.9% during mid-day trading on Friday . The company traded as low as $4.05 and last traded at $4.08. 5,978,015 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 8,474,855 shares. The stock had previously closed at $4.29.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ACHR. JPMorgan Chase & Co. boosted their target price on Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright assumed coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Archer Aviation in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Archer Aviation Stock Down 4.2 %

The stock has a fifty day moving average price of $3.28 and a two-hundred day moving average price of $3.61. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -3.11 and a beta of 2.29. The company has a quick ratio of 4.49, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the business posted ($0.19) EPS. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently added to or reduced their stakes in the stock. HBK Investments L P bought a new position in Archer Aviation in the 3rd quarter valued at about $6,818,000. Alpine Global Management LLC bought a new position in Archer Aviation in the first quarter valued at approximately $5,782,000. Sora Investors LLC bought a new position in Archer Aviation in the third quarter valued at approximately $3,429,000. Intellectus Partners LLC raised its position in Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock valued at $3,187,000 after purchasing an additional 523,024 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the last quarter. 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.