Archer Aviation (NYSE:ACHR) Stock Price Down 1% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) traded down 1% during trading on Monday . The company traded as low as $3.02 and last traded at $3.05. 1,894,201 shares traded hands during trading, a decline of 74% from the average session volume of 7,329,173 shares. The stock had previously closed at $3.08.

Analysts Set New Price Targets

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

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -1.90 and a beta of 2.31. The stock has a 50-day moving average of $3.35 and a 200 day moving average of $3.71.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.07. On average, analysts expect that Archer Aviation Inc. will post -1.2 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were bought at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now directly owns 59,734,962 shares in the company, valued at $200,112,122.70. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in Archer Aviation in the fourth quarter valued at approximately $578,000. HighPoint Advisor Group LLC acquired a new stake in Archer Aviation during the 4th quarter worth $75,000. Hennion & Walsh Asset Management Inc. lifted its holdings in Archer Aviation by 196.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock worth $151,000 after acquiring an additional 21,662 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in Archer Aviation by 266.5% in the first quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock valued at $191,000 after acquiring an additional 30,075 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Archer Aviation by 2.3% in the first quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after acquiring an additional 8,500 shares in the last quarter. 59.34% of the stock is owned by institutional investors.

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.