Archer Aviation (NYSE:ACHR) Shares Down 0.4% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price was down 0.4% during mid-day trading on Tuesday . The stock traded as low as $10.91 and last traded at $11.35. Approximately 17,683,815 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 22,797,618 shares. The stock had previously closed at $11.39.

Analyst Ratings Changes

ACHR has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Archer Aviation in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Tuesday, May 13th. Canaccord Genuity Group raised their target price on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Raymond James upped their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.50.

Archer Aviation Stock Performance

The company has a fifty day moving average of $8.23 and a two-hundred day moving average of $8.23. The stock has a market capitalization of $6.18 billion, a P/E ratio of -8.56 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

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

Insiders Place Their Bets

In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $764,024.80. Following the sale, the chief technology officer now directly owns 1,131,443 shares of the company’s stock, valued at $8,712,111.10. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares in the company, valued at $1,789,449.20. The trade was a 17.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 705,844 shares of company stock valued at $6,583,103. Company insiders own 7.65% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. bought a new position in Archer Aviation in the 4th quarter worth about $27,000. Conquis Financial LLC acquired a new position in shares of Archer Aviation during the fourth quarter worth approximately $29,000. Oarsman Capital Inc. grew its holdings in Archer Aviation by 471.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after buying an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its holdings in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after buying an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Institutional investors own 59.34% of the company’s stock.

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.