Archer Aviation (NYSE:ACHR) Shares Down 3.2% - What's Next?

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) were down 3.2% during trading on Monday . The company traded as low as $8.78 and last traded at $8.80. Approximately 27,394,284 shares traded hands 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ACHR shares. Canaccord Genuity Group boosted their target price on Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. HC Wainwright restated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Cantor Fitzgerald boosted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.38.

Archer Aviation Price Performance

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 company has a 50-day moving average of $8.47 and a 200-day moving average of $5.32. The firm has a market capitalization of $4.15 billion, a price-to-earnings ratio of -7.39 and a beta of 3.15.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the business posted ($0.19) earnings per share. As a group, research analysts anticipate that Archer Aviation Inc. will post -1.31 EPS for the current fiscal year.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the sale, the chief technology officer now 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. In the last quarter, insiders have bought 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Company insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently made changes to their positions in ACHR. Townsquare Capital LLC raised its stake in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after acquiring an additional 3,033 shares during the period. PFG Investments LLC raised its stake in Archer Aviation by 16.3% in the 4th quarter. PFG Investments LLC now owns 22,821 shares of the company's stock valued at $223,000 after acquiring an additional 3,192 shares during the period. Tidal Investments LLC raised its stake in Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock valued at $44,000 after acquiring an additional 3,339 shares during the period. Hsbc Holdings PLC raised its stake in Archer Aviation by 14.8% in the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company's stock valued at $89,000 after acquiring an additional 3,341 shares during the period. Finally, Versant Capital Management Inc raised its stake in 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 acquiring an additional 3,430 shares during the period. Institutional investors 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.