Archer Aviation (NYSE:ACHR) Stock Price Up 0.9% – What’s Next?

Shares of Archer Aviation Inc. (NYSE:ACHR) rose 0.9% during trading on Wednesday . The company traded as high as $9.33 and last traded at $9.26. Approximately 4,643,755 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 27,980,641 shares. The stock had previously closed at $9.17.

Wall Street Analyst Weigh In

A number of research firms have commented on ACHR. Cantor Fitzgerald lifted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Archer Aviation in a research report on Thursday, January 16th. Canaccord Genuity Group raised their price objective on shares of Archer Aviation from $11.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut shares of Archer Aviation from an “overweight” rating to a “neutral” rating and upped their target price for the company from $6.00 to $9.00 in a report on Friday, January 10th. Finally, HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of Archer Aviation in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.38.

Archer Aviation Price Performance

The firm has a 50-day moving average of $9.16 and a 200-day moving average of $5.62. The stock has a market cap of $3.93 billion, a PE ratio of -7.00 and a beta of 3.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 6.03 and a quick ratio of 6.03.

Archer Aviation (NYSE:ACHR) last announced its quarterly earnings data 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 quarter last year, the firm earned ($0.19) EPS. Research analysts predict that Archer Aviation Inc. will post -1.31 EPS for the current year.

Insiders Place Their Bets

In other Archer Aviation news, insider Tosha Perkins sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.40, for a total transaction of $960,000.00. Following the sale, the insider now directly owns 197,355 shares of the company’s stock, valued at $1,263,072. The trade was a 43.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam D. Goldstein sold 805,170 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,197,136 shares of the company’s stock, valued at $19,432,739.68. The trade was a 16.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 776,791 shares of company stock worth $5,139,699 and have sold 1,862,899 shares worth $12,201,707. Corporate insiders own 9.75% of the company’s stock.

Institutional Trading of Archer Aviation

Several hedge funds and other institutional investors have recently bought and sold shares of ACHR. GPS Wealth Strategies Group LLC boosted its position in Archer Aviation by 708.3% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 3,395 shares of the company’s stock valued at $33,000 after buying an additional 2,975 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in shares of Archer Aviation in the fourth quarter valued at approximately $49,000. Amalgamated Bank grew its stake in Archer Aviation by 50.7% in the fourth quarter. Amalgamated Bank now owns 7,961 shares of the company’s stock worth $78,000 after purchasing an additional 2,680 shares in the last quarter. Miller Wealth Advisors LLC purchased a new position in Archer Aviation during the 3rd quarter worth $26,000. Finally, Versant Capital Management Inc raised its position in Archer Aviation by 74.3% during the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares in 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.