Archer Aviation (NYSE:ACHR) Trading 4.3% Higher – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) traded up 4.3% during mid-day trading on Thursday . The company traded as high as $10.30 and last traded at $9.76. 22,799,751 shares were traded during trading, a decline of 23% from the average session volume of 29,686,441 shares. The stock had previously closed at $9.36.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ACHR shares. Cantor Fitzgerald raised their target price on Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Archer Aviation in a report on Thursday, January 16th. HC Wainwright reiterated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a report on Monday, December 16th. Deutsche Bank Aktiengesellschaft lifted their target price on Archer Aviation from $11.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $6.00 to $9.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.25.

Archer Aviation Price Performance

The firm has a market cap of $4.03 billion, a price-to-earnings ratio of -7.18 and a beta of 3.13. The stock has a 50-day moving average price of $9.35 and a 200 day moving average price of $5.81. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Insider Transactions at Archer Aviation

In related news, CEO Adam D. Goldstein sold 805,170 shares of the 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 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 trade represents a 16.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This trade represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 776,791 shares of company stock valued at $5,139,699 and have sold 1,862,899 shares valued at $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several large investors have recently modified their holdings of the business. Harbour Investments Inc. grew its stake in shares of Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock valued at $30,000 after acquiring an additional 1,095 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Archer Aviation by 4.7% in the fourth quarter. Sanctuary Advisors LLC now owns 27,740 shares of the company’s stock worth $257,000 after purchasing an additional 1,246 shares in the last quarter. Xponance Inc. grew its stake in Archer Aviation by 8.5% in the fourth quarter. Xponance Inc. now owns 16,600 shares of the company’s stock worth $162,000 after purchasing an additional 1,299 shares in the last quarter. Hollencrest Capital Management grew its stake in Archer Aviation by 7.4% in the fourth quarter. Hollencrest Capital Management now owns 26,000 shares of the company’s stock worth $254,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Interchange Capital Partners LLC grew its stake in Archer Aviation by 8.0% in the fourth quarter. Interchange Capital Partners LLC now owns 26,494 shares of the company’s stock worth $258,000 after purchasing an additional 1,972 shares in the last quarter. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Archer Aviation

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.