Insider Buying: Archer Aviation Inc. (NYSE:ACHR) Director Acquires 5,150 Shares of Stock

Archer Aviation Inc. (NYSE:ACHR) Director Deborah Diaz purchased 5,150 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the purchase, the director now owns 98,886 shares of the company’s stock, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Archer Aviation Stock Down 3.5 %

Shares of NYSE:ACHR traded down $0.26 during midday trading on Tuesday, reaching $7.22. The company had a trading volume of 39,236,613 shares, compared to its average volume of 9,531,379. Archer Aviation Inc. has a 1-year low of $2.82 and a 1-year high of $7.90. The stock has a market cap of $3.07 billion, a PE ratio of -5.44 and a beta of 2.29. 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’s 50 day moving average price is $3.57 and its 200 day moving average price is $3.69.

Archer Aviation (NYSE:ACHR) last posted its quarterly 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 period in the previous year, the business earned ($0.19) earnings per share. Research analysts forecast that Archer Aviation Inc. will post -1.2 EPS for the current fiscal year.

Institutional Trading of Archer Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its position in shares of Archer Aviation by 48.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 29,961 shares of the company’s stock valued at $138,000 after acquiring an additional 9,713 shares during the period. CreativeOne Wealth LLC acquired a new stake in Archer Aviation in the 1st quarter valued at about $117,000. Cetera Advisors LLC bought a new position in Archer Aviation during the first quarter worth about $80,000. CWM LLC increased its position in Archer Aviation by 62.0% during the second quarter. CWM LLC now owns 9,300 shares of the company’s stock worth $33,000 after buying an additional 3,559 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Archer Aviation by 23.9% in the second quarter. Bank of New York Mellon Corp now owns 1,321,257 shares of the company’s stock valued at $4,651,000 after buying an additional 254,460 shares during the period. 59.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

ACHR has been the topic of several research reports. Needham & Company LLC began coverage on shares of Archer Aviation in a research report on Tuesday, November 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Archer Aviation in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Finally, HC Wainwright began coverage on Archer Aviation in a report on Tuesday, September 3rd. They set a “buy” rating and a $12.50 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Archer Aviation presently has an average rating of “Moderate Buy” and an average price target 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.