Archer Aviation (NYSE:ACHR) Stock Price Down 4.9% - Should You Sell?

Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price was down 4.9% during mid-day trading on Friday . The company traded as low as $4.05 and last traded at $4.08. Approximately 5,978,015 shares traded hands during trading, a decline of 29% from the average daily volume of 8,474,855 shares. The stock had previously closed at $4.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ACHR shares. JPMorgan Chase & Co. lifted their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the company an "overweight" rating in a research report on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a "buy" rating and a $12.50 target price on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Benchmark reiterated a "buy" rating and set a $12.00 price objective on shares of Archer Aviation in a research note on Friday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Archer Aviation Stock Performance

The company has a current ratio of 6.03, a quick ratio of 4.49 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.48 billion, a P/E ratio of -3.09 and a beta of 2.29. The company has a 50 day moving average price of $3.26 and a 200-day moving average price of $3.62.

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 the consensus estimate of ($0.24) by ($0.05). During the same period in the previous year, the business earned ($0.19) earnings per share. On average, equities analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. HBK Investments L P bought a new stake in shares of Archer Aviation in the third quarter worth $6,818,000. Charles Schwab Investment Management Inc. raised its position in shares of Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock worth $5,547,000 after acquiring an additional 94,430 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Archer Aviation by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company's stock worth $4,651,000 after acquiring an additional 254,460 shares during the period. Alpine Global Management LLC bought a new stake in Archer Aviation in the first quarter valued at approximately $5,782,000. Finally, Intellectus Partners LLC increased its position in Archer Aviation by 1.3% during the 3rd quarter. Intellectus Partners LLC now owns 919,020 shares of the company's stock valued at $2,790,000 after purchasing an additional 11,800 shares during the period. 59.34% of the stock is currently owned by institutional investors.

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.

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