Archer Aviation (NYSE:ACHR) Shares Up 1.3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price rose 1.3% on Wednesday . The stock traded as high as $10.02 and last traded at $9.83. Approximately 12,185,799 shares were traded during trading, a decline of 63% from the average daily volume of 32,602,387 shares. The stock had previously closed at $9.70.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $6.00 to $9.00 in a report on Friday, January 10th. Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft increased their price objective on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Stock Performance

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 fifty day simple moving average of $8.47 and a two-hundred day simple moving average of $5.32. The firm has a market capitalization of $4.23 billion, a P/E ratio of -7.54 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the company posted ($0.19) EPS. On average, research analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Transactions at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares in the company, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was acquired at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the purchase, the insider now directly owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds and other institutional investors have recently made changes to their positions in ACHR. HBK Investments L P bought a new stake in Archer Aviation during the 3rd quarter worth approximately $6,818,000. Sora Investors LLC bought a new stake in Archer Aviation during the third quarter worth $3,429,000. Yarbrough Capital LLC purchased a new stake in Archer Aviation in the 4th quarter valued at $6,039,000. Stifel Financial Corp lifted its stake in Archer Aviation by 574.5% during the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after acquiring an additional 391,092 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after acquiring an additional 312,440 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.