Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares fell 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 mid-day trading, a decline of 66% from the average session volume of 20,114,790 shares. The stock had previously closed at $7.43.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Raymond James raised their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an "outperform" rating in a report on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Cantor Fitzgerald upped their price objective on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Needham & Company LLC upped their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.
Read Our Latest Stock Report on ACHR
Archer Aviation Trading Down 2.5 %
The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $3.76 billion, a PE ratio of -5.26 and a beta of 3.16. The stock's fifty day moving average price is $8.08 and its two-hundred day moving average price is $7.21.
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, topping the consensus estimate of ($0.40) by $0.10. Sell-side analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current year.
Insider Buying and Selling at Archer Aviation
In other Archer Aviation news, insider Tosha Perkins sold 33,335 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the transaction, the insider now owns 262,673 shares in the company, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Mesler sold 62,258 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction 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. In the last ninety days, insiders have sold 424,780 shares of company stock valued at $3,158,081. 9.75% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation during the fourth quarter valued at approximately $27,000. Conquis Financial LLC bought a new position in Archer Aviation during the 4th quarter valued at approximately $29,000. Oarsman Capital Inc. raised its stake in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after buying an additional 2,547 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC grew its stake 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 worth $32,000 after acquiring an additional 1,224 shares during the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
About Archer Aviation
(
Get Free Report)
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.
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