Archer Aviation (NYSE:ACHR) Stock Price Down 7.3% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 7.3% during mid-day trading on Wednesday . The stock traded as low as $7.04 and last traded at $7.16. 9,993,551 shares were traded during trading, a decline of 11% from the average session volume of 11,191,600 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC initiated coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. HC Wainwright assumed coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price for the company. Canaccord Genuity Group upped their price target on Archer Aviation from $8.50 to $11.00 and gave the company a “buy” rating in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Archer Aviation presently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Archer Aviation Stock Up 17.0 %

The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average of $4.78 and a 200-day moving average of $4.05. The stock has a market cap of $3.57 billion, a PE ratio of -5.88 and a beta of 3.19.

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

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now owns 60,486,841 shares of the company’s stock, valued at $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Deborah Diaz purchased 5,150 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $7.48 per share, with a total value of $38,522.00. Following the purchase, the director now directly owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. The trade was a 5.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,069,958 shares worth $5,461,608. 9.75% of the stock is currently owned by company insiders.

Institutional Trading of Archer Aviation

Several hedge funds have recently made changes to their positions in ACHR. Hollencrest Capital Management raised its holdings in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares in the last quarter. Townsquare Capital LLC boosted its holdings in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company’s stock valued at $45,000 after purchasing an additional 3,033 shares in the last quarter. Tidal Investments LLC increased its position in Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company’s stock worth $44,000 after purchasing an additional 3,339 shares during the period. Hsbc Holdings PLC raised its stake in shares of Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company’s stock worth $89,000 after buying an additional 3,341 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after buying an additional 3,559 shares during the period. 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.