Archer Aviation (NYSE:ACHR) Stock Price Down 1.1% - What's Next?

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) fell 1.1% during mid-day trading on Wednesday . The company traded as low as $10.77 and last traded at $11.16. 11,041,198 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 22,895,509 shares. The stock had previously closed at $11.29.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ACHR. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 target price 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 target on shares of Archer Aviation in a report on Friday, May 16th. Raymond James upped their price objective on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. Finally, Canaccord Genuity Group upped their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Archer Aviation Trading Down 3.3%

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 stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of -8.36 and a beta of 3.13. The business has a 50 day simple moving average of $8.32 and a 200-day simple moving average of $8.25.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.40) by $0.10. As a group, equities analysts expect that Archer Aviation Inc. will post -1.32 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In other news, CFO Priya Gupta sold 13,210 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $12.99, for a total transaction of $171,597.90. Following the sale, the chief financial officer now directly owns 134,104 shares in the company, valued at approximately $1,742,010.96. This represents a 8.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the transaction, the chief financial officer now directly owns 630,243 shares in the company, valued at approximately $4,852,871.10. This trade represents a 8.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 705,844 shares of company stock valued at $6,583,103. Company insiders own 7.65% of the company's stock.

Institutional Investors Weigh In On Archer Aviation

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

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.

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