Archer Aviation (NYSE:ACHR) Stock Price Up 18.8% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) shot up 18.8% during trading on Friday . The company traded as high as $9.84 and last traded at $9.60. 40,329,100 shares were traded during mid-day trading, an increase of 308% from the average session volume of 9,889,396 shares. The stock had previously closed at $8.08.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ACHR. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Archer Aviation in a research note on Monday, October 7th. Needham & Company LLC began coverage on Archer Aviation in a research note on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Finally, HC Wainwright assumed coverage on shares of Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 target price on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Archer Aviation Stock Up 17.2 %

The company has a market capitalization of $4.03 billion, a P/E ratio of -7.27 and a beta of 2.29. The firm’s 50 day moving average price is $3.85 and its two-hundred day moving average price is $3.77. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR) last released its earnings results on Friday, November 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same quarter last year, the company earned ($0.19) EPS. Equities research analysts forecast that Archer Aviation Inc. will post -1.29 EPS for the current year.

Insider Activity at Archer Aviation

In related news, Director Deborah Diaz acquired 5,150 shares of Archer Aviation stock in a transaction on Monday, November 25th. The stock was purchased at an average cost of $7.48 per share, with a total value of $38,522.00. Following the completion of the transaction, the director now directly owns 98,886 shares in the company, valued at $739,667.28. This trade represents a 5.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam D. Goldstein acquired 19,762 shares of Archer Aviation stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $5.12 per share, with a total value of $101,181.44. Following the completion of the transaction, the chief executive officer now owns 2,014,890 shares of the company’s stock, valued at approximately $10,316,236.80. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.75% of the stock is owned by company insiders.

Institutional Investors Weigh In On Archer Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of ACHR. Price T Rowe Associates Inc. MD lifted its holdings in shares of Archer Aviation by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 69,387 shares of the company’s stock worth $321,000 after buying an additional 5,611 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Archer Aviation during the first quarter worth $49,000. Cetera Advisors LLC acquired a new stake in shares of Archer Aviation during the first quarter worth $80,000. DNB Asset Management AS lifted its holdings in shares of Archer Aviation by 195.1% during the second quarter. DNB Asset Management AS now owns 263,063 shares of the company’s stock worth $926,000 after buying an additional 173,919 shares in the last quarter. Finally, CWM LLC raised its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company’s stock valued at $33,000 after purchasing an additional 3,559 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

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.