Archer Aviation (NYSE:ACHR) Trading Down 3.3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares dropped 3.3% on Wednesday . The company traded as low as $10.13 and last traded at $10.32. Approximately 14,571,285 shares traded hands during trading, a decline of 54% from the average daily volume of 31,991,502 shares. The stock had previously closed at $10.67.

Analyst Ratings Changes

ACHR has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Canaccord Genuity Group lowered their target price on Archer Aviation from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Finally, Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.25.

Archer Aviation Price Performance

The stock has a market cap of $4.39 billion, a PE ratio of -7.83 and a beta of 3.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The firm’s 50 day moving average price is $9.48 and its two-hundred day moving average price is $5.95.

Insider Activity at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tosha Perkins sold 150,000 shares of Archer Aviation stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total value of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. The trade was a 43.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,057,729 shares worth $8,473,770. 9.75% of the stock is owned by company insiders.

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the company. Creative Planning grew its position in shares of Archer Aviation by 74.1% during the 3rd quarter. Creative Planning now owns 28,851 shares of the company’s stock valued at $87,000 after purchasing an additional 12,278 shares in the last quarter. Stratos Wealth Advisors LLC grew its position in Archer Aviation by 157.4% during the third quarter. Stratos Wealth Advisors LLC now owns 58,149 shares of the company’s stock worth $176,000 after buying an additional 35,554 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at about $36,000. Narwhal Capital Management purchased a new stake in shares of Archer Aviation in the 3rd quarter valued at about $40,000. Finally, PFG Investments LLC boosted its position in shares of Archer Aviation by 36.0% during the 3rd quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock valued at $59,000 after acquiring an additional 5,200 shares during the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.