Short Interest in Archer Aviation Inc. (NYSE:ACHR) Decreases By 6.7%

Archer Aviation Inc. (NYSE:ACHR) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 71,440,000 shares, a decline of 6.7% from the November 15th total of 76,610,000 shares. Based on an average daily volume of 23,010,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 26.6% of the company’s shares are short sold.

Insider Buying and Selling at Archer Aviation

In other news, Director Deborah Diaz acquired 5,150 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average price of $7.48 per share, for a total transaction of $38,522.00. Following the acquisition, the director now owns 98,886 shares of the company’s stock, valued at $739,667.28. This represents a 5.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Thomas Paul Muniz sold 438,428 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $7.59, for a total value of $3,327,668.52. Following the completion of the sale, the chief technology officer now owns 1,170,360 shares in the company, valued at $8,883,032.40. This represents a 27.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,571,386 shares worth $9,236,577. Company insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ACHR. HBK Investments L P acquired a new position in shares of Archer Aviation during the 3rd quarter worth about $6,818,000. Sora Investors LLC acquired a new position in shares of Archer Aviation during the 3rd quarter worth about $3,429,000. Stifel Financial Corp boosted its position in shares of Archer Aviation by 574.5% in the 3rd quarter. Stifel Financial Corp now owns 459,171 shares of the company’s stock valued at $1,391,000 after purchasing an additional 391,092 shares during the period. Barclays PLC grew its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock worth $1,294,000 after buying an additional 312,440 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Archer Aviation by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after buying an additional 268,896 shares during the last quarter. 59.34% of the stock is owned by institutional investors and hedge funds.

Archer Aviation Stock Up 4.7 %

Shares of NYSE:ACHR traded up $0.42 on Tuesday, hitting $9.29. 36,325,651 shares of the company’s stock were exchanged, compared to its average volume of 12,097,165. The firm’s 50-day moving average is $5.00 and its 200 day moving average is $4.14. The company has a market capitalization of $3.95 billion, a PE ratio of -6.74 and a beta of 3.19. Archer Aviation has a 1-year low of $2.82 and a 1-year high of $9.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 6.03 and a current ratio of 6.03.

Archer Aviation (NYSE:ACHR) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.05). During the same period last year, the business earned ($0.19) earnings per share. Sell-side analysts predict that Archer Aviation will post -1.28 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on ACHR. Needham & Company LLC began coverage on Archer Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Archer Aviation in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday. Canaccord Genuity Group boosted their target price on Archer Aviation from $8.50 to $11.00 and gave the stock a “buy” rating in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $12.50 target price on shares of Archer Aviation in a research note on Monday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

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.