Archer Aviation (NYSE:ACHR) Shares Down 3.4% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) fell 3.4% during trading on Monday . The stock traded as low as $9.71 and last traded at $9.74. 7,400,201 shares were traded during mid-day trading, a decline of 69% from the average session volume of 23,564,696 shares. The stock had previously closed at $10.09.

Analyst Ratings Changes

Several research firms have issued reports on ACHR. Needham & Company LLC reiterated a “buy” rating and set a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Archer Aviation in a research report on Friday, May 16th. Canaccord Genuity Group lifted their price target on Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a report on Friday, February 28th. Finally, Raymond James increased their price target on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Archer Aviation Stock Performance

The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of -7.37 and a beta of 3.13. 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 has a fifty day simple moving average of $8.74 and a two-hundred day simple moving average of $8.71.

Archer Aviation (NYSE:ACHR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. Analysts forecast that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 80,919 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $12.99, for a total value of $1,051,137.81. Following the transaction, the chief technology officer now owns 1,253,294 shares of the company’s stock, valued at $16,280,289.06. This represents a 6.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 33,335 shares of Archer Aviation stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $234,678.40. Following the transaction, the insider now directly owns 262,673 shares in the company, valued at $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. In the last three months, insiders sold 451,859 shares of company stock valued at $4,627,418. 7.65% of the stock is owned by insiders.

Institutional Trading of Archer Aviation

Large investors have recently modified their holdings of the business. ARK Investment Management LLC boosted its position in shares of Archer Aviation by 27.1% in the 4th quarter. ARK Investment Management LLC now owns 29,912,089 shares of the company’s stock worth $291,643,000 after purchasing an additional 6,371,647 shares in the last quarter. Vanguard Group Inc. boosted its stake in Archer Aviation by 19.7% in the 1st quarter. Vanguard Group Inc. now owns 19,729,296 shares of the company’s stock worth $140,275,000 after purchasing an additional 3,249,106 shares in the last quarter. Geode Capital Management LLC grew its position in Archer Aviation by 14.2% during the 4th quarter. Geode Capital Management LLC now owns 5,835,128 shares of the company’s stock valued at $56,908,000 after purchasing an additional 724,736 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of Archer Aviation by 158.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,999,767 shares of the company’s stock worth $48,748,000 after buying an additional 3,064,280 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Archer Aviation during the 4th quarter valued at about $42,709,000. 59.34% of the stock is owned by institutional investors.

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.