Archer Aviation (NYSE:ACHR) Trading 5.4% Higher – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $4.72 and last traded at $4.65. Approximately 9,769,524 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 8,567,940 shares. The stock had previously closed at $4.41.

Wall Street Analyst Weigh In

ACHR has been the subject of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Friday, August 9th. Needham & Company LLC assumed coverage on Archer Aviation in a research report on Tuesday. They issued a “buy” rating and a $11.00 target price on the stock. HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Archer Aviation has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Archer Aviation Stock Up 15.4 %

The business has a fifty day moving average of $3.30 and a 200 day moving average of $3.62. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.16 billion, a PE ratio of -3.52 and a beta of 2.29.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. Equities research analysts anticipate that Archer Aviation Inc. will post -1.2 EPS for the current year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in Archer Aviation by 5.6% during the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares in the last quarter. Barclays PLC boosted its holdings in Archer Aviation by 272.7% during the third quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares in the last quarter. Main Management ETF Advisors LLC purchased a new stake in Archer Aviation during the third quarter worth about $583,000. XTX Topco Ltd purchased a new stake in Archer Aviation during the third quarter worth about $397,000. Finally, EP Wealth Advisors LLC boosted its holdings in Archer Aviation by 50.0% during the third quarter. EP Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $45,000 after buying an additional 5,000 shares in the last quarter. 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.