Archer Aviation (NYSE:ACHR) Stock Price Down 3.9% – Time to Sell?

Archer Aviation Inc. (NYSE:ACHR) shares fell 3.9% during trading on Friday . The company traded as low as $8.57 and last traded at $8.60. 40,597,032 shares traded hands during trading, an increase of 2% from the average session volume of 39,704,582 shares. The stock had previously closed at $8.95.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, October 8th. Needham & Company LLC reduced their price objective on Archer Aviation from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Archer Aviation in a report on Monday, November 24th. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $12.50.

Archer Aviation Stock Down 3.9%

The company has a market capitalization of $5.60 billion, a PE ratio of -6.83 and a beta of 3.10. The company has a current ratio of 18.19, a quick ratio of 18.19 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $10.02.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) EPS for the quarter, hitting the consensus estimate of ($0.20). Research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 45,018 shares of Archer Aviation stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.49, for a total value of $337,184.82. Following the sale, the insider owned 334,632 shares of the company’s stock, valued at $2,506,393.68. The trade was a 11.86% 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, CFO Priya Gupta sold 5,479 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.49, for a total transaction of $41,037.71. Following the transaction, the chief financial officer directly owned 161,523 shares of the company’s stock, valued at $1,209,807.27. This represents a 3.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 182,635 shares of company stock worth $1,367,936 over the last quarter. Insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Strs Ohio purchased a new stake in shares of Archer Aviation during the 1st quarter worth $27,000. AlphaQuest LLC boosted its holdings in Archer Aviation by 1,181.6% during the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after buying an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Archer Aviation during the third quarter worth about $29,000. Bank of Jackson Hole Trust grew its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock worth $30,000 after buying an additional 986 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Archer Aviation in the first quarter valued at about $31,000. Hedge funds and other institutional investors 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.