Archer Aviation (NYSE:ACHR) Shares Down 3.2% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 3.2% during mid-day trading on Monday . The stock traded as low as $8.65 and last traded at $9.15. 12,251,380 shares were traded during trading, a decline of 58% from the average session volume of 29,058,059 shares. The stock had previously closed at $9.45.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ACHR. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald increased their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock 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 boosted their price target for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.38.

Archer Aviation Trading Down 0.2 %

The stock has a market cap of $3.89 billion, a price-to-earnings ratio of -6.94 and a beta of 3.14. The business has a 50-day simple moving average of $9.16 and a two-hundred day simple moving average of $5.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its earnings results 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 last year, the company earned ($0.19) EPS. As a group, research analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Activity

In other news, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the purchase, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the business’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 value of $3,727,937.10. Following the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. This trade represents a 16.10 % decrease in their position. The disclosure for this sale can be found here. In 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. 9.75% of the stock is owned by corporate insiders.

Institutional Trading of Archer Aviation

Hedge funds have recently made changes to their positions in the business. Barclays PLC increased its holdings in shares of Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 shares during the last quarter. HBK Investments L P acquired a new position in shares of Archer Aviation in the third quarter valued at $6,818,000. Yarbrough Capital LLC bought a new position in shares of Archer Aviation in the fourth quarter valued at about $6,039,000. Benjamin Edwards Inc. lifted its stake in shares of Archer Aviation by 12,656.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 106,258 shares of the company’s stock worth $322,000 after buying an additional 105,425 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Archer Aviation by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock worth $5,547,000 after buying an additional 94,430 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.