Archer Aviation (NYSE:ACHR) Shares Gap Down - Time to Sell?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $9.45, but opened at $8.81. Archer Aviation shares last traded at $8.86, with a volume of 7,396,833 shares traded.

Analyst Ratings Changes

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

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Archer Aviation Trading Down 0.2 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a fifty day moving average of $9.21 and a 200-day moving average of $5.67. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -6.92 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last released 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 company posted ($0.19) EPS. On average, equities analysts anticipate 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, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total transaction of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares in the company, valued at approximately $12,844,320. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC raised its position in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. HBK Investments L P bought a new position in Archer Aviation in the 3rd quarter worth $6,818,000. Yarbrough Capital LLC acquired a new position in Archer Aviation during the 4th quarter worth $6,039,000. Benjamin Edwards Inc. boosted its holdings in Archer Aviation by 12,656.1% during the third quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company's stock valued at $322,000 after acquiring an additional 105,425 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Archer Aviation by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock valued at $5,547,000 after purchasing an additional 94,430 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.

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.