Archer Aviation (NYSE:ACHR) Shares Down 2.7% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 2.7% during mid-day trading on Monday . The company traded as low as $6.91 and last traded at $7.07. 9,391,078 shares changed hands during trading, a decline of 52% from the average session volume of 19,433,525 shares. The stock had previously closed at $7.26.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ACHR shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Raymond James upped their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Friday, February 28th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Finally, Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.61.

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 has a 50 day moving average of $8.67 and a 200-day moving average of $6.94. The firm has a market capitalization of $3.77 billion, a P/E ratio of -5.27 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.10. On average, sell-side analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Transactions at Archer Aviation

In other 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 transaction of $234,678.40. Following the sale, the insider now directly owns 262,673 shares of the company’s stock, valued at approximately $1,849,217.92. This represents a 11.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 50,000 shares of the firm’s stock in a transaction 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 in the company, valued at $12,844,320. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 474,780 shares of company stock valued at $3,758,081. 9.75% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new stake in Archer Aviation during the fourth quarter worth $27,000. Conquis Financial LLC bought a new stake in shares of Archer Aviation during the 4th quarter worth $29,000. Oarsman Capital Inc. boosted its stake in Archer Aviation by 471.7% in 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 in the last quarter. Harbour Investments Inc. boosted its stake in Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after buying an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC raised its stake in Archer Aviation by 58.3% during 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 in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.