Archer Aviation (NYSE:ACHR) Trading Down 0.4% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares were down 0.4% during mid-day trading on Thursday . The company traded as low as $7.83 and last traded at $8.10. Approximately 6,337,703 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 30,475,656 shares. The stock had previously closed at $8.13.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ACHR. Cantor Fitzgerald boosted their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Raymond James lifted 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. Needham & Company LLC boosted their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.61.

Archer Aviation Trading Down 0.7 %

The business’s 50 day simple moving average is $8.81 and its 200-day simple moving average is $6.81. The stock has a market capitalization of $4.38 billion, a P/E ratio of -6.12 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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

Insider Buying and Selling at Archer Aviation

In other news, CFO Mark Mesler sold 62,258 shares of the 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 completion of the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at $4,852,871.10. This represents a 8.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,070,360 shares in the company, valued at approximately $12,844,320. This represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 303,985 shares of company stock valued at $2,555,685. Corporate insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation in the fourth quarter valued at $27,000. Conquis Financial LLC acquired a new position in shares of Archer Aviation during the 4th quarter worth about $29,000. Oarsman Capital Inc. increased 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 purchasing an additional 2,547 shares during the last quarter. Harbour Investments Inc. lifted its stake in Archer Aviation by 54.7% in the 4th 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. Finally, Anchor Investment Management LLC grew its holdings in Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds 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.