Archer Aviation (NYSE:ACHR) Trading Down 3.4% - What's Next?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares traded down 3.4% during mid-day trading on Thursday . The company traded as low as $6.87 and last traded at $7.18. 6,788,517 shares were traded during trading, a decline of 66% from the average session volume of 20,114,790 shares. The stock had previously closed at $7.43.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald boosted their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Needham & Company LLC raised their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, February 21st. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $11.61.

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Archer Aviation Stock Up 3.3 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock's 50-day moving average price is $8.16 and its two-hundred day moving average price is $7.18. The stock has a market capitalization of $3.94 billion, a PE ratio of -5.50 and a beta of 3.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last announced its 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. As a group, analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other Archer Aviation news, General Counsel Eric Lentell sold 50,004 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $352,028.16. Following the completion of the sale, the general counsel now owns 45,416 shares of the company's stock, valued at approximately $319,728.64. The trade was a 52.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares in the company, valued at $1,849,217.92. The trade was a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. Stifel Financial Corp grew its position in shares of Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock valued at $1,391,000 after acquiring an additional 391,092 shares during the period. EP Wealth Advisors LLC increased its position in Archer Aviation by 50.0% in the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company's stock worth $45,000 after buying an additional 5,000 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Archer Aviation in the third quarter worth about $397,000. Barclays PLC lifted its position in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company's stock valued at $1,294,000 after buying an additional 312,440 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock valued at $15,487,000 after acquiring an additional 268,896 shares during the period. Hedge funds and other institutional investors 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.