Archer Aviation (NYSE:ACHR) Shares Down 0.4% - Should You Sell?

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) traded down 0.4% during trading on Tuesday . The stock traded as low as $10.91 and last traded at $11.35. 17,683,815 shares were traded during trading, a decline of 22% from the average session volume of 22,797,618 shares. The stock had previously closed at $11.39.

Analyst Ratings Changes

Several analysts recently commented on the stock. Canaccord Genuity Group lifted their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Raymond James lifted their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Needham & Company LLC reiterated a "buy" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Friday, May 16th. Finally, HC Wainwright reiterated a "buy" rating and issued a $12.50 price objective on shares of Archer Aviation in a research note on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Archer Aviation Stock Down 2.0%

The firm's 50 day simple moving average is $8.42 and its two-hundred day simple moving average is $8.32. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of -8.03 and a beta of 3.13. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. On average, equities analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 33,335 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $7.04, for a total value of $234,678.40. Following the completion of the transaction, the insider now directly owns 262,673 shares in the company, valued at approximately $1,849,217.92. The trade was a 11.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Thomas Paul Muniz sold 99,224 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $8,712,111.10. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 705,844 shares of company stock worth $6,583,103. 7.65% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC grew its holdings in shares of Archer Aviation by 6.7% during the 4th quarter. EP Wealth Advisors LLC now owns 16,000 shares of the company's stock valued at $156,000 after purchasing an additional 1,000 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Archer Aviation by 54.7% during the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Anchor Investment Management LLC grew its holdings in shares of Archer Aviation by 58.3% during the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Archer Aviation by 4.7% during the 4th quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company's stock valued at $257,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Archer Aviation by 8.5% during the 4th quarter. Xponance Inc. now owns 16,600 shares of the company's stock valued at $162,000 after purchasing an additional 1,299 shares during the last quarter. 59.34% of the stock is owned by 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.