Archer Aviation (NYSE:ACHR) Trading Up 5.9% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 5.9% on Wednesday . The company traded as high as $7.30 and last traded at $7.15. Approximately 21,203,753 shares were traded during trading, an increase of 99% from the average daily volume of 10,658,916 shares. The stock had previously closed at $6.75.

Wall Street Analyst Weigh In

ACHR has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a report on Monday, October 7th. HC Wainwright initiated coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price target on the stock. Finally, Needham & Company LLC initiated coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.33.

Archer Aviation Trading Up 2.2 %

The stock has a market cap of $2.93 billion, a PE ratio of -5.42 and a beta of 3.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03. The stock has a fifty day moving average price of $4.14 and a 200 day moving average price of $3.86.

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 previous year, the company earned ($0.19) earnings per share. Equities analysts expect that Archer Aviation Inc. will post -1.29 EPS for the current year.

Insider Activity at Archer Aviation

In other news, CEO Adam D. Goldstein sold 805,170 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total transaction of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at approximately $19,432,739.68. This represents a 16.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah Diaz purchased 5,150 shares of the company’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $7.48 per share, with a total value of $38,522.00. Following the transaction, the director now directly owns 98,886 shares of the company’s stock, valued at $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 9.75% of the company’s stock.

Hedge Funds Weigh In On Archer Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. HBK Investments L P bought a new stake in Archer Aviation during the third quarter valued at about $6,818,000. Sora Investors LLC bought a new position in shares of Archer Aviation during the third quarter worth $3,429,000. Intellectus Partners LLC raised its holdings in shares of Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after acquiring an additional 523,024 shares during the period. Stifel Financial Corp increased its stake in Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after buying an additional 391,092 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Archer Aviation by 272.7% in the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after acquiring an additional 312,440 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.