Archer Aviation (NYSE:ACHR) Shares Down 3.2% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price dropped 3.2% during mid-day trading on Monday . The stock traded as low as $8.78 and last traded at $8.80. Approximately 27,394,284 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 43,078,868 shares. The stock had previously closed at $9.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Stock Up 9.7 %

The company’s 50 day moving average is $8.36 and its 200 day moving average is $5.29. The company has a market cap of $4.11 billion, a PE ratio of -7.33 and a beta of 3.15. 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period last year, the firm earned ($0.19) EPS. As a group, analysts predict that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the completion of the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein bought 19,762 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $5.12 per share, for a total transaction of $101,181.44. Following the transaction, the chief executive officer now directly owns 2,014,890 shares in the company, valued at approximately $10,316,236.80. This represents a 0.99 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Miller Wealth Advisors LLC purchased a new position in Archer Aviation in the third quarter valued at about $26,000. Versant Capital Management Inc boosted its holdings in shares of Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after buying an additional 3,430 shares in the last quarter. Code Waechter LLC purchased a new position in shares of Archer Aviation in the 3rd quarter worth approximately $30,000. Azzad Asset Management Inc. ADV bought a new position in shares of Archer Aviation during the 3rd quarter worth approximately $31,000. Finally, Sara Bay Financial purchased a new stake in Archer Aviation during the fourth quarter valued at approximately $104,000. 59.34% of the stock is owned by institutional investors.

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.