Archer Aviation (NYSE:ACHR) Trading Down 2.7% - Should You Sell?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) was down 2.7% during mid-day trading on Monday . The company traded as low as $6.91 and last traded at $7.07. Approximately 9,391,078 shares traded hands during trading, a decline of 52% from the average daily volume of 19,433,525 shares. The stock had previously closed at $7.26.

Analyst Ratings Changes

ACHR has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and upped their target price for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC lifted their target price on Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Cantor Fitzgerald upped their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Finally, Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.61.

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Archer Aviation Stock Performance

The company's 50-day moving average is $8.56 and its two-hundred day moving average is $6.95. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.76 billion, a P/E ratio of -5.25 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. Equities analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Eric Lentell sold 50,004 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the transaction, the general counsel now owns 45,416 shares in the company, valued at $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total transaction of $234,678.40. Following the completion of the sale, the insider now directly owns 262,673 shares in the company, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 474,780 shares of company stock valued at $3,758,081 over the last ninety days. 9.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Archer Aviation

A number of large investors have recently made changes to their positions in the stock. Barclays PLC lifted its holdings in Archer Aviation by 272.7% during 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Archer Aviation by 24.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after buying an additional 446,864 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Archer Aviation by 253.4% in the fourth quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock valued at $501,000 after acquiring an additional 36,840 shares during the period. ARK Investment Management LLC boosted its position in shares of Archer Aviation by 27.1% in the fourth quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock valued at $291,643,000 after acquiring an additional 6,371,647 shares during the period. Finally, Yarbrough Capital LLC purchased a new position in Archer Aviation during the fourth quarter valued at approximately $6,039,000. 59.34% of the stock is owned by institutional investors.

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.