Archer Aviation (NYSE:ACHR) Trading Down 1.8%

Archer Aviation Inc. (NYSE:ACHRGet Free Report) shares traded down 1.8% on Monday . The company traded as low as $3.27 and last traded at $3.30. 1,068,089 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 5,103,441 shares. The stock had previously closed at $3.36.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Tuesday, February 27th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research report on Tuesday, May 21st. Barclays dropped their target price on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Archer Aviation from $7.00 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $8.10.

Check Out Our Latest Report on Archer Aviation

Archer Aviation Price Performance

The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -2.02 and a beta of 2.35. The business’s 50-day moving average is $3.79 and its two-hundred day moving average is $4.85. The company has a quick ratio of 6.01, a current ratio of 6.01 and a debt-to-equity ratio of 0.08.

Archer Aviation (NYSE:ACHRGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same period in the previous year, the business posted ($0.46) EPS. Equities analysts anticipate that Archer Aviation Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder N.V. Stellantis bought 750,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $5.19 per share, for a total transaction of $3,892,500.00. Following the acquisition, the insider now directly owns 39,351,720 shares of the company’s stock, valued at approximately $204,235,426.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.17% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACHR. Vanguard Group Inc. raised its stake in shares of Archer Aviation by 20.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,324,725 shares of the company’s stock valued at $42,123,000 after acquiring an additional 1,394,872 shares during the period. Spire Wealth Management lifted its stake in Archer Aviation by 33.4% during the fourth quarter. Spire Wealth Management now owns 44,943 shares of the company’s stock worth $276,000 after purchasing an additional 11,248 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock worth $152,000 after buying an additional 8,246 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Archer Aviation during the fourth quarter worth $230,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Archer Aviation by 11.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 111,163 shares of the company’s stock valued at $693,000 after buying an additional 11,163 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Archer Aviation Company Profile

(Get Free Report)

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.

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