Archer Aviation (NYSE:ACHR) Trading Up 2.6% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) was up 2.6% during mid-day trading on Thursday . The stock traded as high as $3.29 and last traded at $3.20. Approximately 4,973,583 shares traded hands during trading, a decline of 34% from the average daily volume of 7,487,694 shares. The stock had previously closed at $3.12.

Analysts Set New Price Targets

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

Archer Aviation Trading Down 0.3 %

The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -1.96 and a beta of 2.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.49 and a current ratio of 4.49. The business has a fifty day moving average of $3.27 and a two-hundred day moving average of $3.66.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.07. As a group, equities analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Insider Activity at Archer Aviation

In related news, major shareholder N.V. Stellantis bought 2,982,089 shares of Archer Aviation stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the purchase, the insider now owns 59,734,962 shares in the company, valued at $200,112,122.70. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 27.17% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently bought and sold shares of ACHR. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Archer Aviation by 196.6% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 32,681 shares of the company’s stock worth $151,000 after purchasing an additional 21,662 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Archer Aviation by 266.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,360 shares of the company’s stock worth $191,000 after purchasing an additional 30,075 shares during the period. Swiss National Bank lifted its stake in shares of Archer Aviation by 2.3% during the 1st quarter. Swiss National Bank now owns 376,600 shares of the company’s stock worth $1,740,000 after purchasing an additional 8,500 shares during the period. Interchange Capital Partners LLC lifted its stake in shares of Archer Aviation by 48.7% during the 1st quarter. Interchange Capital Partners LLC now owns 25,538 shares of the company’s stock worth $120,000 after purchasing an additional 8,361 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after purchasing an additional 8,717 shares during the period. Hedge funds and other institutional investors own 59.34% of the company’s stock.

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.