Archer Aviation (NYSE:ACHR) Shares Up 0.3% – Here’s Why

Archer Aviation Inc. (NYSE:ACHR)’s stock price traded up 0.3% during mid-day trading on Tuesday . The stock traded as high as $8.98 and last traded at $8.90. 12,747,716 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 11,990,922 shares. The stock had previously closed at $8.87.

Analysts Set New Price Targets

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

Archer Aviation Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03. The business has a 50-day moving average of $5.00 and a 200 day moving average of $4.14. The company has a market capitalization of $3.97 billion, a PE ratio of -6.74 and a beta of 3.19.

Archer Aviation (NYSE:ACHR) last announced its earnings results 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 quarter last year, the company earned ($0.19) earnings per share. Equities research analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current year.

Insider Activity at Archer Aviation

In other Archer Aviation news, CEO Adam D. Goldstein sold 805,170 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deborah Diaz bought 5,150 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $7.48 per share, for a total transaction of $38,522.00. Following the transaction, the director now directly owns 98,886 shares in the company, valued at approximately $739,667.28. This represents a 5.49 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 776,791 shares of company stock worth $5,139,699 and sold 1,571,386 shares worth $9,236,577. 9.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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