Archer Aviation (NYSE:ACHR) Shares Gap Down – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $7.92, but opened at $6.74. Archer Aviation shares last traded at $8.10, with a volume of 11,914,359 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ACHR shares. Canaccord Genuity Group increased their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday. Cantor Fitzgerald raised their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Needham & Company LLC raised their price target on shares of Archer Aviation from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Raymond James raised their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have issued 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 $11.61.

Archer Aviation Stock Performance

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’s 50-day moving average price is $9.59 and its two-hundred day moving average price is $6.24. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -6.72 and a beta of 3.14.

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

Insider Transactions at Archer Aviation

In related news, major shareholder N.V. Stellantis purchased 751,879 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was purchased 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 in the company, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Thomas Paul Muniz sold 50,000 shares of Archer Aviation stock in a transaction on Monday, December 16th. The shares were sold at an average price of $9.00, for a total transaction of $450,000.00. Following the completion of the sale, the chief technology officer now directly owns 1,120,360 shares of the company’s stock, valued at approximately $10,083,240. This trade represents a 4.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,057,729 shares of company stock worth $8,473,770 over the last three months. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. Creative Planning increased its stake in Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company’s stock valued at $87,000 after purchasing an additional 12,278 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Archer Aviation by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock valued at $115,000 after purchasing an additional 4,505 shares in the last quarter. Fullcircle Wealth LLC increased its stake in Archer Aviation by 138.0% in the third quarter. Fullcircle Wealth LLC now owns 47,601 shares of the company’s stock valued at $144,000 after purchasing an additional 27,601 shares in the last quarter. Vestor Capital LLC bought a new stake in shares of Archer Aviation during the third quarter worth about $61,000. Finally, Miller Wealth Advisors LLC bought a new stake in shares of Archer Aviation during the third quarter worth about $26,000. 59.34% of the stock is owned by institutional investors.

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.