Archer Aviation (NYSE:ACHR) Shares Up 2.8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares rose 2.8% during mid-day trading on Tuesday . The company traded as high as $9.52 and last traded at $9.44. Approximately 6,011,519 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 28,631,496 shares. The stock had previously closed at $9.18.

Analyst Ratings Changes

Several research analysts have weighed in on ACHR shares. HC Wainwright reaffirmed a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and raised their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a report on Thursday, January 16th. Finally, Cantor Fitzgerald increased their price target on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $11.38.

Archer Aviation Stock Up 0.5 %

The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -7.00 and a beta of 3.14. 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 50 day moving average price of $9.12 and a 200-day moving average price of $5.59.

Archer Aviation (NYSE:ACHR) last announced its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the previous year, the business earned ($0.19) EPS. On average, equities analysts forecast that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insider Buying and Selling at Archer Aviation

In related news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the transaction, the insider now directly owns 197,355 shares of the company’s stock, valued at approximately $1,263,072. The trade was a 43.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now directly owns 4,197,136 shares in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,862,899 shares worth $12,201,707. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACHR. Miller Wealth Advisors LLC bought a new position in shares of Archer Aviation in the third quarter worth $26,000. Code Waechter LLC bought a new position in Archer Aviation during the third quarter valued at about $30,000. Azzad Asset Management Inc. ADV bought a new position in Archer Aviation during the third quarter valued at about $31,000. GPS Wealth Strategies Group LLC boosted its stake in Archer Aviation by 708.3% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC bought a new position in Archer Aviation during the third quarter valued at about $36,000. 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.