Archer Aviation (NYSE:ACHR) Trading Up 7.9% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 7.9% during trading on Wednesday . The company traded as high as $9.07 and last traded at $8.87. 12,678,936 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 34,580,281 shares. The stock had previously closed at $8.22.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ACHR shares. Cantor Fitzgerald boosted 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. Canaccord Genuity Group upped their target price on Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $6.00 to $9.00 in a research note on Friday, January 10th. Needham & Company LLC assumed coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They set a “buy” rating and a $11.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Archer Aviation presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

Archer Aviation Trading Up 8.8 %

The business has a fifty day moving average price of $7.85 and a two-hundred day moving average price of $5.12. 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 firm has a market capitalization of $3.80 billion, a PE ratio of -6.77 and a beta of 3.15.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.05). During the same quarter in the prior year, the business earned ($0.19) EPS. Analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the sale, the chief executive officer now owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder N.V. Stellantis bought 751,879 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were purchased at an average price of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the acquisition, the insider now directly owns 60,486,841 shares in the company, valued at $402,237,492.65. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 776,791 shares of company stock valued at $5,139,699 and sold 1,862,899 shares valued at $12,201,707. 9.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently bought and sold shares of the business. Miller Wealth Advisors LLC acquired a new position in shares of Archer Aviation in the third quarter valued at approximately $26,000. Code Waechter LLC purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $30,000. Azzad Asset Management Inc. ADV purchased a new position in Archer Aviation in the 3rd quarter valued at approximately $31,000. Hollencrest Capital Management increased its position in shares of Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company’s stock worth $32,000 after acquiring an additional 3,000 shares during the period. Finally, Cyndeo Wealth Partners LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at $36,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.