Archer Aviation (NYSE:ACHR) Trading Down 1.3% - Should You Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) fell 1.3% during trading on Tuesday . The company traded as low as $8.92 and last traded at $9.04. 5,763,307 shares changed hands during trading, a decline of 81% from the average session volume of 31,111,707 shares. The stock had previously closed at $9.16.

Analyst Ratings Changes

Several research firms recently commented on ACHR. Cantor Fitzgerald increased their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. HC Wainwright reiterated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Canaccord Genuity Group boosted their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.38.

Archer Aviation Stock Down 0.1 %

The business's fifty day moving average price is $8.79 and its 200 day moving average price is $5.44. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of -6.94 and a beta of 3.15. 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 posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business posted ($0.19) EPS. On average, equities analysts expect that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares of the company's stock, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company's stock, valued at $1,263,072. This represents a 43.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently modified their holdings of the business. HBK Investments L P purchased a new position in Archer Aviation in the third quarter worth $6,818,000. Sora Investors LLC purchased a new position in shares of Archer Aviation in the 3rd quarter valued at about $3,429,000. Yarbrough Capital LLC purchased a new position in shares of Archer Aviation in the 4th quarter valued at about $6,039,000. Stifel Financial Corp boosted its holdings in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after buying an additional 391,092 shares in the last quarter. Finally, Barclays PLC grew its position in Archer Aviation by 272.7% during the third 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 period. 59.34% of the stock is owned by institutional investors and hedge funds.

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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