Archer Aviation (NYSE:ACHR) Shares Down 0.1% – Time to Sell?
by Jessica Moore · The Cerbat GemShares of Archer Aviation Inc. (NYSE:ACHR – Get Free Report) fell 0.1% on Thursday . The stock traded as low as $8.18 and last traded at $8.35. 5,572,225 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 18,758,829 shares. The stock had previously closed at $8.36.
Analysts Set New Price Targets
Several research firms have recently weighed in on ACHR. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. lowered Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $6.00 to $9.00 in a research report on Friday, January 10th. Needham & Company LLC lifted their price objective on Archer Aviation from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.61.
Get Our Latest Analysis on ACHR
Archer Aviation Stock Down 1.5 %
The stock has a fifty day moving average price of $8.85 and a two-hundred day moving average price of $6.62. The company has a market cap of $4.47 billion, a P/E ratio of -6.27 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.
Archer Aviation (NYSE:ACHR – Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.10. On average, research analysts expect that Archer Aviation Inc. will post -1.32 EPS for the current year.
Insider Transactions at Archer Aviation
In other Archer Aviation news, CTO Thomas Paul Muniz sold 99,224 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total transaction of $764,024.80. Following the completion of the transaction, the chief technology officer now owns 1,131,443 shares in the company, valued at $8,712,111.10. This trade represents a 8.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tosha Perkins sold 49,273 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the completion of the sale, the insider now directly owns 232,396 shares in the company, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,985 shares of company stock worth $2,555,685 in the last 90 days. Insiders own 9.75% of the company’s stock.
Institutional Investors Weigh In On Archer Aviation
A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Sunbelt Securities Inc. purchased a new position in shares of Archer Aviation during the fourth quarter worth approximately $27,000. Conquis Financial LLC purchased a new position in shares of Archer Aviation during the fourth quarter worth approximately $29,000. Oarsman Capital Inc. raised its stake in shares of Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after acquiring an additional 2,547 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after acquiring an additional 1,095 shares in the last quarter. Finally, Anchor Investment Management LLC raised its stake in shares of Archer Aviation by 58.3% during the fourth quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock worth $32,000 after acquiring an additional 1,224 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other 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.
Recommended Stories
- Five stocks we like better than Archer Aviation
- Market Cap Calculator: How to Calculate Market Cap
- Everything About Amazon Stock Signals a Buy—Time to Load Up?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- 5 Reasons Five Below’s Stock Price Is Heading Higher This Year
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Broadcom: Why the Chip Stock Remains a Top Long-Term AI Play