Adam D. Goldstein Purchases 19,762 Shares of Archer Aviation Inc. (NYSE:ACHR) Stock

Archer Aviation Inc. (NYSE:ACHR) CEO Adam D. Goldstein bought 19,762 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $5.12 per share, for a total transaction of $101,181.44. Following the transaction, the chief executive officer now directly owns 2,014,890 shares of the company’s stock, valued at $10,316,236.80. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Archer Aviation Stock Up 14.3 %

Archer Aviation stock traded up $0.73 during mid-day trading on Thursday, hitting $5.79. The company had a trading volume of 39,679,805 shares, compared to its average volume of 8,925,229. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -4.39 and a beta of 2.29. Archer Aviation Inc. has a 1 year low of $2.82 and a 1 year high of $7.01. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $3.37 and a 200 day moving average of $3.63.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter in the prior year, the firm posted ($0.19) EPS. On average, sell-side analysts expect that Archer Aviation Inc. will post -1.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Archer Aviation

Several large investors have recently modified their holdings of ACHR. HBK Investments L P acquired a new stake in shares of Archer Aviation in the third quarter valued at approximately $6,818,000. Alpine Global Management LLC acquired a new stake in shares of Archer Aviation in the first quarter valued at approximately $5,782,000. Sora Investors LLC acquired a new stake in shares of Archer Aviation in the third quarter valued at approximately $3,429,000. Intellectus Partners LLC lifted its holdings in shares of Archer Aviation by 136.1% during the second quarter. Intellectus Partners LLC now owns 907,220 shares of the company’s stock worth $3,187,000 after purchasing an additional 523,024 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock worth $1,391,000 after purchasing an additional 391,092 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ACHR has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Needham & Company LLC initiated coverage on shares of Archer Aviation in a research note on Tuesday. They set a “buy” rating and a $11.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Archer Aviation from $5.00 to $6.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Archer Aviation in a research note on Monday, October 7th. Finally, HC Wainwright initiated coverage on shares of Archer Aviation in a research note on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.33.

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.