Archer Aviation (NYSE:ACHR) Shares Down 0.7% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) traded down 0.7% during trading on Tuesday . The stock traded as low as $11.01 and last traded at $11.37. 21,553,725 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 38,994,430 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ACHR shares. HC Wainwright reissued a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Monday, December 16th. Canaccord Genuity Group boosted their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Needham & Company LLC started coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Cantor Fitzgerald boosted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.00.

Archer Aviation Price Performance

The business has a 50-day simple moving average of $7.25 and a two-hundred day simple moving average of $4.92. 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 stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -7.95 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the company earned ($0.19) earnings per share. As a group, research analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Insider Transactions at Archer Aviation

In related news, Director Deborah Diaz purchased 5,150 shares of Archer Aviation stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. This trade represents a 5.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam D. Goldstein sold 805,170 shares of Archer Aviation stock in a transaction on Tuesday, November 19th. The shares were 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 $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 have acquired 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Archer Aviation by 23.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after purchasing an additional 254,460 shares in the last quarter. Principal Financial Group Inc. increased its position in Archer Aviation by 75.6% during the second quarter. Principal Financial Group Inc. now owns 31,064 shares of the company’s stock worth $109,000 after buying an additional 13,372 shares during the last quarter. Rhumbline Advisers raised its holdings in Archer Aviation by 29.3% during the second quarter. Rhumbline Advisers now owns 311,852 shares of the company’s stock valued at $1,098,000 after buying an additional 70,575 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Archer Aviation by 13.7% in the second quarter. Arizona State Retirement System now owns 59,593 shares of the company’s stock worth $210,000 after buying an additional 7,184 shares during the last quarter. Finally, Choreo LLC bought a new stake in shares of Archer Aviation during the 2nd quarter worth about $49,000. Institutional investors and hedge funds 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.