Archer Aviation (NYSE:ACHR) Stock Price Down 0.2% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded down 0.2% during trading on Friday . The company traded as low as $8.57 and last traded at $8.74. 6,515,994 shares were traded during mid-day trading, a decline of 70% from the average session volume of 21,458,561 shares. The stock had previously closed at $8.76.

Analyst Ratings Changes

Several brokerages recently weighed in on ACHR. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research report on Monday, April 21st. HC Wainwright restated a “buy” rating and set a $12.50 price target on shares of Archer Aviation in a report on Friday, February 28th. Canaccord Genuity Group upped their price objective on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Raymond James raised their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock’s 50-day simple moving average is $7.74 and its two-hundred day simple moving average is $7.86. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -6.67 and a beta of 3.13.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. Analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Activity

In related news, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $764,024.80. Following the completion of the sale, the chief technology officer now owns 1,131,443 shares in the company, valued at approximately $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total value of $234,678.40. Following the sale, the insider now directly owns 262,673 shares in the company, valued at approximately $1,849,217.92. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 474,780 shares of company stock valued at $3,581,581. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. acquired a new stake in shares of Archer Aviation during the 4th quarter valued at about $27,000. Conquis Financial LLC acquired a new stake in Archer Aviation during the fourth quarter valued at approximately $29,000. Oarsman Capital Inc. boosted its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after purchasing an additional 1,095 shares during the period. Finally, Anchor Investment Management LLC raised its holdings in shares of Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after buying an additional 1,224 shares in the last quarter. 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.