Archer Aviation (NYSE:ACHR) Stock Price Down 8.7% - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price traded down 8.7% during trading on Monday . The company traded as low as $8.15 and last traded at $8.34. 18,024,075 shares were traded during mid-day trading, a decline of 45% from the average session volume of 32,590,834 shares. The stock had previously closed at $9.13.

Analyst Ratings Changes

Several equities research analysts recently commented on ACHR shares. Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Raymond James increased their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a report on Friday, December 13th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $11.33.

Archer Aviation Stock Down 8.2 %

The firm has a market capitalization of $3.26 billion, a P/E ratio of -5.77 and a beta of 3.14. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The stock's 50-day simple moving average is $9.65 and its 200-day simple moving average is $6.15.

Insider Buying and Selling

In other Archer Aviation news, major shareholder N.V. Stellantis purchased 751,879 shares of the firm's stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. The trade was a 1.26 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 150,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the completion of the sale, the insider now directly owns 197,355 shares of the company's stock, valued at approximately $1,263,072. This trade represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,057,729 shares of company stock valued at $8,473,770. 9.75% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Several institutional investors have recently bought and sold shares of the company. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation in the third quarter worth approximately $26,000. Sunbelt Securities Inc. bought a new stake in Archer Aviation during the 4th quarter valued at $27,000. Conquis Financial LLC purchased a new stake in Archer Aviation during the fourth quarter worth $29,000. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Oarsman Capital Inc. grew its stake in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other 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.