Archer Aviation (NYSE:ACHR) Shares Up 0.3% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR) shares traded up 0.3% during trading on Monday . The company traded as high as $11.80 and last traded at $11.55. 18,011,059 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 36,010,445 shares. The stock had previously closed at $11.51.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACHR shares. Needham & Company LLC started coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. HC Wainwright reissued a “buy” rating and set a $12.50 price objective on shares of Archer Aviation in a research note on Monday, December 16th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Archer Aviation Trading Down 5.7 %

The stock has a market cap of $4.47 billion, a PE ratio of -7.95 and a beta of 3.15. The stock’s fifty day moving average price is $7.25 and its 200 day moving average price is $4.92. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

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 period last year, the company earned ($0.19) earnings per share. On average, sell-side analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.

Insider Activity

In other news, insider Tosha Perkins sold 150,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.40, for a total transaction of $960,000.00. Following the completion of the sale, the insider now owns 197,355 shares of the company’s stock, valued at $1,263,072. This represents a 43.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s 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 in the company, valued at approximately $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 776,791 shares of company stock valued at $5,139,699 and have sold 1,812,899 shares valued at $11,601,707. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ACHR. Geode Capital Management LLC lifted its position in shares of Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. HBK Investments L P bought a new stake in Archer Aviation during the 3rd quarter worth approximately $6,818,000. Charles Schwab Investment Management Inc. lifted its holdings in Archer Aviation by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company’s stock valued at $5,547,000 after purchasing an additional 94,430 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Archer Aviation by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock worth $4,651,000 after purchasing an additional 254,460 shares during the period. Finally, Sora Investors LLC purchased a new stake in shares of Archer Aviation in the third quarter worth $3,429,000. 59.34% of the stock is currently owned by 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.