Archer Aviation (NYSE:ACHR) Stock Price Up 2.9% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 2.9% on Tuesday . The company traded as high as $6.99 and last traded at $7.00. Approximately 7,573,216 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 32,153,031 shares. The stock had previously closed at $6.80.

Analyst Upgrades and Downgrades

ACHR has been the subject of several analyst reports. Cantor Fitzgerald raised their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Canaccord Genuity Group raised their target price on shares of Archer Aviation from $13.00 to $13.50 and gave the company a “buy” rating in a research note on Friday, February 28th. Raymond James boosted their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.61.

Archer Aviation Stock Performance

The firm has a market capitalization of $3.75 billion, a P/E ratio of -5.24 and a beta of 3.14. The company has a 50-day moving average of $9.24 and a 200-day moving average of $6.44. 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 posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. On average, equities analysts anticipate that Archer Aviation Inc. will post -1.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $7.70, for a total value of $379,402.10. Following the completion of the sale, the insider now owns 232,396 shares of the company’s stock, valued at approximately $1,789,449.20. This trade represents a 17.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder N.V. Stellantis acquired 751,879 shares of the stock in a transaction on Wednesday, December 11th. The shares were acquired at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the acquisition, the insider now owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. The trade was a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 1,046,926 shares of company stock worth $8,695,783. 9.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. purchased a new position in Archer Aviation during the 4th quarter worth $27,000. Conquis Financial LLC bought a new position in shares of Archer Aviation during the fourth quarter valued at about $29,000. Harbour Investments Inc. boosted its holdings in Archer Aviation by 54.7% during the fourth quarter. Harbour Investments Inc. now owns 3,097 shares of the company’s stock worth $30,000 after purchasing an additional 1,095 shares during the last quarter. Oarsman Capital Inc. boosted its holdings in Archer Aviation by 471.7% during the fourth quarter. Oarsman Capital Inc. now owns 3,087 shares of the company’s stock worth $30,000 after purchasing an additional 2,547 shares during the last quarter. Finally, Anchor Investment Management LLC increased its stake in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company’s stock valued at $32,000 after buying an additional 1,224 shares during the last quarter. Hedge funds and other 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.