Archer Aviation (NYSE:ACHR) Stock Price Down 3.6% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) fell 3.6% on Friday . The company traded as low as $6.91 and last traded at $7.1140. 29,507,531 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 39,538,586 shares. The stock had previously closed at $7.38.

Analysts Set New Price Targets

ACHR has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Wednesday, January 14th. Canaccord Genuity Group boosted their target price on Archer Aviation from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Archer Aviation in a report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Archer Aviation in a research report on Monday, December 1st. They set a “neutral” rating and a $11.00 price target for the company. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.17.

Archer Aviation Trading Down 3.6%

The stock has a market cap of $4.63 billion, a P/E ratio of -5.65 and a beta of 3.11. The stock’s 50-day moving average is $7.80 and its two-hundred day moving average is $8.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 18.19 and a quick ratio of 18.19.

Insider Transactions at Archer Aviation

In related news, CTO Thomas Paul Muniz sold 125,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $8.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,272,129 shares of the company’s stock, valued at approximately $10,177,032. This trade represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.65% of the stock is currently owned by insiders.

Institutional Trading of Archer Aviation

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in Archer Aviation by 1,181.6% in the second quarter. AlphaQuest LLC now owns 2,576 shares of the company’s stock worth $28,000 after purchasing an additional 2,375 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new stake in Archer Aviation during the third quarter valued at approximately $29,000. Bank of Jackson Hole Trust lifted its position in Archer Aviation by 45.9% during the third quarter. Bank of Jackson Hole Trust now owns 3,136 shares of the company’s stock valued at $30,000 after acquiring an additional 986 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Archer Aviation by 105.3% in the second quarter. Geneos Wealth Management Inc. now owns 3,318 shares of the company’s stock valued at $36,000 after acquiring an additional 1,702 shares in the last quarter. Finally, Sound Income Strategies LLC purchased a new position in Archer Aviation in the third quarter worth $33,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Archer Aviation Company Profile

Archer Aviation, Inc (NYSE: ACHR) is a California-based aerospace company developing electric vertical takeoff and landing (eVTOL) aircraft designed to serve as sustainable urban air mobility solutions. Founded in 2018 by Adam Goldstein and Brett Adcock, Archer focuses on the design, development and certification of zero-emissions air taxis aimed at reducing traffic congestion in densely populated metropolitan areas. The company’s flagship prototypes, “Maker” and “Midnight,” have been engineered to deliver quiet, efficient short-haul flights with ranges of up to 100 miles per charge.

Headquartered in Palo Alto, California, Archer operates a manufacturing facility in nearby Santa Cruz County and maintains research partnerships with automotive and energy companies, including a collaboration with Stellantis to integrate advanced battery systems.