Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price fell 3.9% during mid-day trading on Tuesday . The company traded as low as $8.63 and last traded at $8.59. 5,977,233 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 19,082,093 shares. The stock had previously closed at $8.93.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group raised 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. JPMorgan Chase & Co. cut Archer Aviation from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, HC Wainwright restated a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.61.
View Our Latest Research Report on Archer Aviation
Archer Aviation Price Performance
The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $8.75 and its 200-day moving average is $6.87. The stock has a market cap of $3.94 billion, a PE ratio of -5.50 and a beta of 3.14.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.10. As a group, sell-side analysts predict that Archer Aviation Inc. will post -1.32 earnings per share for the current year.
Insider Buying and Selling at Archer Aviation
In related news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the transaction, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $12.00, for a total value of $600,000.00. Following the completion of the transaction, 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. Insiders have sold 303,985 shares of company stock worth $2,555,685 in the last ninety days. 9.75% of the stock is owned by insiders.
Institutional Trading of Archer Aviation
A number of institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP bought a new stake in shares of Archer Aviation during the 4th quarter valued at about $15,912,000. California State Teachers Retirement System boosted its stake in Archer Aviation by 26.2% in the fourth quarter. California State Teachers Retirement System now owns 241,396 shares of the company's stock valued at $2,354,000 after acquiring an additional 50,104 shares during the period. Total Wealth Planning & Management Inc. bought a new position in shares of Archer Aviation during the fourth quarter valued at approximately $450,000. Infinitum Asset Management LLC acquired a new stake in shares of Archer Aviation during the 4th quarter worth approximately $10,844,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter worth approximately $27,000. 59.34% of the stock is owned by institutional investors and hedge funds.
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.
Featured Stories
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
