Archer Aviation (NYSE:ACHR) Trading Down 2.1% - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares were down 2.1% during trading on Thursday . The stock traded as low as $7.30 and last traded at $7.32. Approximately 15,186,425 shares changed hands during trading, a decline of 53% from the average daily volume of 32,040,793 shares. The stock had previously closed at $7.48.

Wall Street Analyst Weigh In

Several analysts have commented on ACHR shares. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Raymond James increased their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Canaccord Genuity Group increased their target price on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research note on Friday, February 28th. Needham & Company LLC increased their target price on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $11.61.

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Archer Aviation Stock Down 2.6 %

The stock has a market capitalization of $4.39 billion, a PE ratio of -6.13 and a beta of 3.14. The firm has a 50 day moving average of $8.95 and a two-hundred day moving average of $6.58. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

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

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now owns 232,396 shares in the company, valued at approximately $1,789,449.20. This represents a 17.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mesler sold 62,258 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $479,386.60. Following the sale, the chief financial officer now owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 495,498 shares of company stock valued at $4,470,815 in the last ninety days. Corporate insiders own 9.75% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

Large investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the fourth quarter worth $27,000. Conquis Financial LLC purchased a new stake in shares of Archer Aviation in the fourth quarter valued at $29,000. Oarsman Capital Inc. grew its position in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares during the period. Harbour Investments Inc. grew its position in shares of 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 purchasing an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC grew its position in shares of Archer Aviation by 58.3% in the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the period. Institutional investors and hedge funds 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.