Archer Aviation (NYSE:ACHR) Trading Up 8% – What’s Next?

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 8% during trading on Wednesday . The company traded as high as $8.36 and last traded at $8.40. 9,190,012 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 32,469,703 shares. The stock had previously closed at $7.77.

Analysts Set New Price Targets

A number of analysts have weighed in on ACHR shares. Canaccord Genuity Group decreased their price target on Archer Aviation from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded Archer Aviation from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $6.00 to $9.00 in a research note on Friday, January 10th. Cantor Fitzgerald increased 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. Raymond James increased their price objective on shares of Archer Aviation from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 target price on shares of Archer Aviation in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Archer Aviation presently has a consensus rating of “Moderate Buy” and an average target price of $11.33.

Archer Aviation Trading Up 7.0 %

The stock’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $6.18. 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 firm has a market cap of $3.54 billion, a PE ratio of -6.30 and a beta of 3.14.

Insider Transactions at Archer Aviation

In related news, General Counsel Eric Lentell sold 114,788 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $6.74, for a total value of $773,671.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were purchased at an average cost of $6.65 per share, for a total transaction of $4,999,995.35. Following the completion of the transaction, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,057,729 shares of company stock worth $8,473,770. Company insiders own 9.75% of the company’s stock.

Institutional Investors Weigh In On Archer Aviation

Several hedge funds have recently made changes to their positions in ACHR. Creative Planning grew its stake in shares of Archer Aviation by 74.1% in the third quarter. Creative Planning now owns 28,851 shares of the company’s stock worth $87,000 after acquiring an additional 12,278 shares during the last quarter. PFG Investments LLC boosted its stake in Archer Aviation by 36.0% during the 3rd quarter. PFG Investments LLC now owns 19,629 shares of the company’s stock valued at $59,000 after purchasing an additional 5,200 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Archer Aviation by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 37,820 shares of the company’s stock worth $115,000 after purchasing an additional 4,505 shares in the last quarter. Fullcircle Wealth LLC raised its stake in shares of Archer Aviation by 138.0% in the third quarter. Fullcircle Wealth LLC now owns 47,601 shares of the company’s stock worth $144,000 after purchasing an additional 27,601 shares during the last quarter. Finally, Vestor Capital LLC purchased a new stake in shares of Archer Aviation during the third quarter valued at $61,000. 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.