Archer Aviation (NYSE:ACHR) Stock Price Down 1.8% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares traded down 1.8% on Wednesday . The company traded as low as $3.20 and last traded at $3.24. 7,778,564 shares changed hands during trading, an increase of 4% from the average session volume of 7,452,880 shares. The stock had previously closed at $3.30.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ACHR. JPMorgan Chase & Co. raised their price target on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. HC Wainwright initiated coverage on Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Finally, Benchmark reiterated a “buy” rating and set a $12.00 price objective on shares of Archer Aviation in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Archer Aviation Stock Down 3.9 %

The business has a 50-day moving average of $3.28 and a 200 day moving average of $3.66. The company has a market capitalization of $1.03 billion, a PE ratio of -1.99 and a beta of 2.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. Equities research analysts predict that Archer Aviation Inc. will post -1.2 earnings per share for the current year.

Insiders Place Their Bets

In other Archer Aviation news, major shareholder N.V. Stellantis bought 2,982,089 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average cost of $3.35 per share, for a total transaction of $9,989,998.15. Following the transaction, the insider now owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 27.17% of the company’s stock.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of ACHR. Hollencrest Capital Management raised its stake in shares of Archer Aviation by 50.0% in the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock valued at $32,000 after acquiring an additional 3,000 shares during the period. CWM LLC raised its position in Archer Aviation by 62.0% in the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after purchasing an additional 3,559 shares during the period. Code Waechter LLC purchased a new stake in Archer Aviation in the 3rd quarter worth about $30,000. Azzad Asset Management Inc. ADV bought a new stake in Archer Aviation in the third quarter worth about $31,000. Finally, Tidal Investments LLC purchased a new position in shares of Archer Aviation during the first quarter valued at approximately $49,000. 59.34% of the stock is currently 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.