Archer Aviation (NYSE:ACHR) Stock Price Down 2.6% - Should You Sell?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares traded down 2.6% on Tuesday . The stock traded as low as $7.98 and last traded at $8.09. 6,410,878 shares traded hands during trading, a decline of 66% from the average session volume of 18,663,295 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased their price target on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Cantor Fitzgerald increased their price target on Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Raymond James increased their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $11.61.

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Archer Aviation Price Performance

The stock has a market capitalization of $4.73 billion, a PE ratio of -6.60 and a beta of 3.14. The stock's 50 day moving average is $8.80 and its two-hundred day moving average is $6.72. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Thomas Paul Muniz sold 50,000 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $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 have sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Archer Aviation by 253.4% during the 4th quarter. Private Advisor Group LLC now owns 51,376 shares of the company's stock worth $501,000 after buying an additional 36,840 shares during the last quarter. HBK Investments L P acquired a new stake in shares of Archer Aviation during the 3rd quarter worth approximately $6,818,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Archer Aviation by 24.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,277,530 shares of the company's stock worth $22,206,000 after buying an additional 446,864 shares during the last quarter. Finally, ARK Investment Management LLC increased its holdings in shares of Archer Aviation by 27.1% during the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company's stock worth $291,643,000 after buying an additional 6,371,647 shares during the last quarter. 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.