Archer Aviation (NYSE:ACHR) Shares Down 1% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares traded down 1% during mid-day trading on Friday . The stock traded as low as $7.62 and last traded at $7.8790. 76,765,872 shares were traded during trading, an increase of 96% from the average session volume of 39,131,129 shares. The stock had previously closed at $7.96.

Analyst Ratings Changes

ACHR has been the topic of several recent research reports. UBS Group restated a “buy” rating on shares of Archer Aviation in a report on Thursday, July 17th. Cantor Fitzgerald set a $13.00 price objective on Archer Aviation in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Archer Aviation in a research report on Tuesday, August 12th. JPMorgan Chase & Co. dropped their target price on Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Needham & Company LLC reduced their target price on shares of Archer Aviation from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Archer Aviation currently has an average rating of “Moderate Buy” and an average price target of $12.57.

Archer Aviation Price Performance

The company has a 50 day simple moving average of $10.28 and a 200-day simple moving average of $10.23. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of -6.25 and a beta of 3.07. The company has a quick ratio of 18.19, a current ratio of 18.19 and a debt-to-equity ratio of 0.05.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.20). As a group, research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In related news, insider Tosha Perkins sold 42,775 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $420,478.25. Following the sale, the insider owned 295,337 shares of the company’s stock, valued at $2,903,162.71. This trade represents a 12.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Lentell sold 48,936 shares of Archer Aviation stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $481,040.88. Following the completion of the sale, the insider owned 47,518 shares in the company, valued at approximately $467,101.94. This represents a 50.74% 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 188,068 shares of company stock worth $1,848,708 over the last ninety days. Insiders own 7.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACHR. Allworth Financial LP lifted its holdings in Archer Aviation by 87.0% in the first quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after purchasing an additional 1,664 shares during the period. Strs Ohio bought a new stake in shares of Archer Aviation during the 1st quarter worth about $27,000. Tidemark LLC raised its position in shares of Archer Aviation by 100.0% during the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock worth $28,000 after buying an additional 2,000 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Archer Aviation by 1,181.6% in the 2nd quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after acquiring an additional 2,375 shares during the period. Finally, Johnson Investment Counsel Inc. bought a new position in shares of Archer Aviation in the third quarter valued at approximately $29,000. 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.