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

Shares of Archer Aviation Inc. (NYSE:ACHR - Get Free Report) saw strong trading volume on Monday following insider buying activity. 15,438,083 shares traded hands during mid-day 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 bought 751,879 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was acquired at an average cost of $6.65 per share, with a total value of $4,999,995.35. Following the completion of the purchase, the insider now owns 60,486,841 shares of the company's stock, valued at $402,237,492.65. This represents a 1.26 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

A number of analysts have commented on ACHR shares. Canaccord Genuity Group increased their price target on shares of Archer Aviation from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday. HC Wainwright reissued a "buy" rating and set a $12.50 price target on shares of Archer Aviation in a research report on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $10.00 price objective on shares of Archer Aviation in a research report on Monday, October 7th. Finally, Needham & Company LLC began coverage on Archer Aviation in a report on Tuesday, November 19th. They set a "buy" rating and a $11.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Archer Aviation currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Archer Aviation Stock Performance

The company has a market cap of $3.77 billion, a P/E ratio of -6.71 and a beta of 3.19. The stock has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16.

Archer Aviation (NYSE:ACHR - Get Free Report) last posted its quarterly earnings data 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 company posted ($0.19) earnings per share. On average, research analysts predict that Archer Aviation Inc. will post -1.28 earnings per share for the current fiscal year.

Institutional Trading of Archer Aviation

A number of institutional investors have recently bought and sold shares of the business. Hollencrest Capital Management lifted its position in Archer Aviation by 50.0% during the second quarter. Hollencrest Capital Management now owns 9,000 shares of the company's stock worth $32,000 after purchasing an additional 3,000 shares during the period. Townsquare Capital LLC raised its position in shares of Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock valued at $45,000 after buying an additional 3,033 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Archer Aviation by 29.9% during the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after acquiring an additional 3,339 shares during the period. Hsbc Holdings PLC boosted its position in shares of Archer Aviation by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 25,972 shares of the company's stock worth $89,000 after acquiring an additional 3,341 shares in the last quarter. Finally, CWM LLC increased its stake in Archer Aviation by 62.0% in the second quarter. CWM LLC now owns 9,300 shares of the company's stock valued at $33,000 after acquiring an additional 3,559 shares during the last quarter. Institutional investors own 59.34% of the company's stock.

About Archer Aviation

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.