Archer Aviation (NYSE:ACHR) Stock Price Down 0.6% – Should You Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded down 0.6% on Thursday . The stock traded as low as $9.10 and last traded at $9.10. 7,576,621 shares changed hands during trading, a decline of 73% from the average session volume of 27,576,553 shares. The stock had previously closed at $9.15.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. Canaccord Genuity Group boosted their price objective on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Finally, Cantor Fitzgerald upped their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Archer Aviation currently has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Price Performance

The business has a fifty day moving average price of $9.21 and a 200 day moving average price of $5.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -6.83 and a beta of 3.14.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the company posted ($0.19) EPS. On average, research analysts expect that Archer Aviation Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the 3rd quarter worth $26,000. Code Waechter LLC purchased a new position in Archer Aviation in the 3rd quarter worth about $30,000. GPS Wealth Strategies Group LLC raised its holdings in Archer Aviation by 708.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock worth $33,000 after buying an additional 2,975 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in Archer Aviation during the third quarter valued at about $36,000. Finally, Narwhal Capital Management acquired a new position in shares of Archer Aviation in the third quarter worth about $40,000. 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.