Archer Aviation (NYSE:ACHR) Sees Strong Trading Volume After Insider Buying Activity

Archer Aviation Inc. (NYSE:ACHR) shares saw unusually-strong trading volume on Monday after an insider bought additional shares in the company. Approximately 15,438,083 shares were traded during trading, an increase of 31% from the previous session’s volume of 11,750,792 shares.The stock last traded at $8.69 and had previously closed at $8.39.

Specifically, major shareholder N.V. Stellantis acquired 751,879 shares of Archer Aviation stock in a transaction dated Wednesday, December 11th. The shares were acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the purchase, the insider now directly owns 60,486,841 shares of the company’s stock, valued at approximately $402,237,492.65. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

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

Archer Aviation Stock Performance

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 firm has a market cap of $3.69 billion, a price-to-earnings ratio of -6.43 and a beta of 3.19. The company has a fifty day moving average price of $4.89 and a two-hundred day moving average price of $4.10.

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 analysts’ consensus estimates of ($0.24) by ($0.05). During the same period in the prior year, the business earned ($0.19) earnings per share. As a group, equities research analysts expect that Archer Aviation Inc. will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. HBK Investments L P bought a new stake in shares of Archer Aviation during the 3rd quarter worth about $6,818,000. Sora Investors LLC bought a new stake in Archer Aviation during the 3rd quarter valued at approximately $3,429,000. Stifel Financial Corp boosted its stake in Archer Aviation by 574.5% during 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 boosted its stake in Archer Aviation by 272.7% during the 3rd quarter. Barclays PLC now owns 427,023 shares of the company’s stock valued at $1,294,000 after purchasing an additional 312,440 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Archer Aviation by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company’s stock worth $15,487,000 after acquiring an additional 268,896 shares during the period. 59.34% of the stock is owned by institutional investors and hedge funds.

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.