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

Archer Aviation Inc. (NYSE:ACHR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.45, but opened at $8.81. Archer Aviation shares last traded at $8.86, with a volume of 7,396,833 shares.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. HC Wainwright reaffirmed a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald raised their price objective on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Stock Down 3.0 %

The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -6.94 and a beta of 3.14. 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 50 day moving average price of $9.09 and a two-hundred day moving average price of $5.56.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the business posted ($0.19) earnings per share. As a group, sell-side analysts expect that Archer Aviation Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. This represents a 43.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Investors Weigh In On Archer Aviation

A number of institutional investors have recently modified their holdings of ACHR. Miller Wealth Advisors LLC acquired a new stake in shares of Archer Aviation in the 3rd quarter worth about $26,000. Code Waechter LLC bought a new position in Archer Aviation in the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Archer Aviation in the third quarter valued at approximately $31,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC acquired a new position in shares of Archer Aviation during the third quarter worth approximately $36,000. 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.