Archer Aviation (NYSE:ACHR) Stock Price Down 1.8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s share price fell 1.8% on Wednesday . The company traded as low as $3.20 and last traded at $3.24. 7,778,564 shares were traded during trading, an increase of 4% from the average session volume of 7,452,880 shares. The stock had previously closed at $3.30.

Wall Street Analysts Forecast Growth

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

Archer Aviation Stock Performance

The stock’s 50 day moving average price is $3.26 and its two-hundred day moving average price is $3.65. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $998.18 million, a price-to-earnings ratio of -1.89 and a beta of 2.31.

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

Insider Activity at Archer Aviation

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

Institutional Trading of Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of the business. Hollencrest Capital Management raised its position in shares of Archer Aviation by 50.0% during the 2nd quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after purchasing an additional 3,000 shares during the last quarter. CWM LLC raised its holdings in shares of Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after acquiring an additional 3,559 shares during the last quarter. Code Waechter LLC purchased a new stake in shares of Archer Aviation in the third quarter valued at $30,000. Azzad Asset Management Inc. ADV purchased a new stake in shares of Archer Aviation in the third quarter valued at $31,000. Finally, Tidal Investments LLC purchased a new stake in Archer Aviation during the 1st quarter worth about $49,000. Hedge funds and other 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.