Archer Aviation (NYSE:ACHR) Shares Down 0.5% - Time to Sell?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price dropped 0.5% during trading on Wednesday . The stock traded as low as $9.08 and last traded at $9.12. Approximately 6,034,540 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 30,271,029 shares. The stock had previously closed at $9.16.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. 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. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reissued a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $11.38.

Archer Aviation Stock Performance

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 moving average price is $9.09 and its 200-day moving average price is $5.56. The company has a market capitalization of $3.93 billion, a P/E ratio of -7.03 and a beta of 3.14.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued 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 quarter in the prior year, the business posted ($0.19) earnings per share. As a group, equities analysts expect that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief technology officer now owns 1,070,360 shares in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ACHR. Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the third quarter valued at about $26,000. Code Waechter LLC bought a new stake in shares of Archer Aviation during the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Archer Aviation in the 3rd quarter worth approximately $31,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company's stock worth $33,000 after acquiring an additional 2,975 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation in the third quarter valued at approximately $36,000. 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.