Archer Aviation (NYSE:ACHR) Trading Down 0.3% – Should You Sell?

Archer Aviation Inc. (NYSE:ACHR) shares traded down 0.3% on Friday . The stock traded as low as $3.05 and last traded at $3.08. 3,261,203 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 7,513,918 shares. The stock had previously closed at $3.09.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. HC Wainwright started coverage on Archer Aviation in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 4.49 and a quick ratio of 4.49. The firm has a 50 day simple moving average of $3.24 and a 200-day simple moving average of $3.64. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -1.90 and a beta of 2.31.

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

Insider Activity

In other news, major shareholder N.V. Stellantis purchased 2,982,089 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $3.35 per share, for a total transaction of $9,989,998.15. Following the completion of the acquisition, the insider now directly owns 59,734,962 shares in the company, valued at approximately $200,112,122.70. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.17% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Archer Aviation

Several hedge funds have recently added to or reduced their stakes in ACHR. Code Waechter LLC bought a new position in Archer Aviation during the third quarter worth about $30,000. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation during the third quarter worth about $31,000. Hollencrest Capital Management boosted 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 buying an additional 3,000 shares during the last quarter. CWM LLC lifted its holdings in shares of Archer Aviation by 62.0% during the 2nd quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in shares of Archer Aviation during the 3rd quarter valued at about $36,000. 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.