Archer Aviation (NYSE:ACHR) Sees Unusually-High Trading Volume

Archer Aviation Inc. (NYSE:ACHR) saw strong trading volume on Wednesday . Approximately 2,582,778 shares changed hands during trading, a decline of 54% from the previous session’s volume of 5,626,698 shares.The stock last traded at $3.96 and had previously closed at $3.72.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays lowered their price target on shares of Archer Aviation from $6.50 to $4.50 and set an “equal weight” rating on the stock in a report on Friday, May 17th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Archer Aviation in a research note on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 target price on shares of Archer Aviation in a research report on Monday. Finally, JPMorgan Chase & Co. reduced their price target on Archer Aviation from $7.00 to $5.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.10.

Archer Aviation Trading Up 14.5 %

The company has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $4.50. The company has a market capitalization of $1.38 billion, a P/E ratio of -2.43 and a beta of 2.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.01 and a quick ratio of 6.01.

Archer Aviation (NYSE:ACHR) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). During the same quarter last year, the company earned ($0.46) earnings per share. On average, analysts forecast that Archer Aviation Inc. will post -1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ACHR. Vestor Capital LLC bought a new stake in Archer Aviation during the 4th quarter valued at approximately $61,000. Tidal Investments LLC acquired a new position in shares of Archer Aviation during the first quarter worth approximately $49,000. Keating Wealth Management LLC bought a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $69,000. StoneX Group Inc. acquired a new stake in shares of Archer Aviation in the fourth quarter worth $70,000. Finally, HighPoint Advisor Group LLC bought a new position in Archer Aviation during the fourth quarter worth $75,000. 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.