Archer Aviation (NYSE:ACHR) Trading Up 3.7% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR) shares rose 3.7% on Thursday . The stock traded as high as $8.64 and last traded at $8.51. Approximately 11,575,261 shares were traded during trading, a decline of 64% from the average daily volume of 32,356,707 shares. The stock had previously closed at $8.21.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ACHR. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Monday, December 16th. Raymond James increased their price objective on Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, February 21st. Cantor Fitzgerald lifted their price objective on Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Archer Aviation in a research note on Thursday, January 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.33.

Archer Aviation Trading Down 3.5 %

The stock has a 50-day moving average price of $9.61 and a two-hundred day moving average price of $6.19. The stock has a market capitalization of $3.37 billion, a PE ratio of -6.00 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Insider Buying and Selling at Archer Aviation

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. This trade represents a 43.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Thomas Paul Muniz sold 438,428 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the transaction, the chief technology officer now directly owns 1,170,360 shares of the company’s stock, valued at approximately $8,883,032.40. This trade represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,057,729 shares of company stock valued at $8,473,770 over the last 90 days. 9.75% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Archer Aviation

Several institutional investors and hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the third quarter valued at $26,000. Sunbelt Securities Inc. bought a new position in shares of Archer Aviation during the 4th quarter valued at about $27,000. Conquis Financial LLC purchased a new position in shares of Archer Aviation during the fourth quarter valued at about $29,000. Harbour Investments Inc. increased its holdings in shares of Archer Aviation by 54.7% in the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Oarsman Capital Inc. increased its holdings in shares of Archer Aviation by 471.7% in the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. 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.