Archer Aviation (NYSE:ACHR) Shares Down 7.9% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price dropped 7.9% on Monday . The stock traded as low as $6.82 and last traded at $6.93. Approximately 10,330,216 shares were traded during trading, a decline of 68% from the average daily volume of 32,287,076 shares. The stock had previously closed at $7.52.

Analyst Upgrades and Downgrades

ACHR has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their price target on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Friday, February 28th. Needham & Company LLC increased their price target on Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Down 10.2 %

The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.87 billion, a PE ratio of -5.12 and a beta of 3.14. The business’s 50-day moving average price is $9.30 and its 200-day moving average price is $6.42.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Tosha Perkins sold 49,273 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $379,402.10. Following the transaction, the insider now directly owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder N.V. Stellantis bought 751,879 shares of Archer Aviation stock in a transaction that occurred on Wednesday, December 11th. The stock was bought at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the acquisition, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 1,046,926 shares of company stock worth $8,695,783. 9.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Archer Aviation during 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. Harbour Investments Inc. boosted its position in shares of 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 acquiring an additional 1,095 shares during the period. Oarsman Capital Inc. grew its stake in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC increased its position 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 during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.