Archer Aviation (NYSE:ACHR) Trading Up 3.2%

Archer Aviation Inc. (NYSE:ACHR)’s stock price was up 3.2% on Tuesday . The company traded as high as $3.22 and last traded at $3.21. Approximately 2,206,437 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 6,829,312 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ACHR shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a report on Monday. HC Wainwright began coverage on Archer Aviation in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $12.50 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Archer Aviation from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Benchmark restated a “buy” rating and issued a $12.00 price objective on shares of Archer Aviation in a report on Friday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Archer Aviation Price Performance

The stock has a market capitalization of $1.02 billion, a PE ratio of -1.92 and a beta of 2.32. The firm’s fifty day moving average price is $3.95 and its two-hundred day moving average price is $3.96. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 0.13.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.07. On average, equities analysts predict that Archer Aviation Inc. will post -1.33 earnings per share for the current year.

Insider Buying and Selling at Archer Aviation

In related news, major shareholder N.V. Stellantis acquired 2,982,089 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $3.35 per share, with a total value of $9,989,998.15. Following the acquisition, the insider now directly owns 59,734,962 shares of the company’s stock, valued at $200,112,122.70. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 27.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Archer Aviation

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC boosted its stake in shares of Archer Aviation by 48.0% during the first quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after purchasing an additional 9,713 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Archer Aviation by 50.0% during the fourth quarter. Victory Capital Management Inc. now owns 24,748 shares of the company’s stock valued at $152,000 after acquiring an additional 8,246 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Archer Aviation by 8.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 113,509 shares of the company’s stock worth $524,000 after purchasing an additional 8,717 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Archer Aviation during the 4th quarter worth about $230,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Archer Aviation by 19.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,386,406 shares of the company’s stock valued at $8,513,000 after purchasing an additional 228,487 shares during the period. 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.