Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s share price fell 0.1% during mid-day trading on Thursday . The stock traded as low as $8.18 and last traded at $8.35. 5,572,225 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 18,758,829 shares. The stock had previously closed at $8.36.
Analyst Upgrades and Downgrades
ACHR has been the topic of several research analyst reports. Cantor Fitzgerald lifted their target price on Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Archer Aviation from $11.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Needham & Company LLC lifted their target price on shares of Archer Aviation from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, February 28th. HC Wainwright reaffirmed a "buy" rating and issued a $12.50 price target on shares of Archer Aviation in a research note on Friday, February 28th. Finally, Raymond James raised their price target on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.61.
View Our Latest Stock Report on Archer Aviation
Archer Aviation Trading Up 5.3 %
The business has a 50-day moving average of $8.80 and a two-hundred day moving average of $6.69. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of -6.60 and a beta of 3.14.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.10. Research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insiders Place Their Bets
In other Archer Aviation news, insider Tosha Perkins sold 49,273 shares of Archer Aviation stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $379,402.10. Following the sale, the insider now directly owns 232,396 shares of the company's stock, valued at approximately $1,789,449.20. The trade was a 17.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Eric Lentell sold 43,230 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total value of $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares of the company's stock, valued at approximately $409,832.50. The trade was a 44.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 303,985 shares of company stock worth $2,555,685 over the last 90 days. Corporate insiders own 9.75% of the company's stock.
Institutional Investors Weigh In On Archer Aviation
Several institutional investors and hedge funds have recently made changes to their positions in ACHR. Sunbelt Securities Inc. bought a new position in Archer Aviation during the 4th quarter valued at about $27,000. Conquis Financial LLC acquired a new position in shares of Archer Aviation in the 4th quarter worth approximately $29,000. Oarsman Capital Inc. increased its holdings in Archer Aviation by 471.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,087 shares of the company's stock valued at $30,000 after purchasing an additional 2,547 shares in the last quarter. Harbour Investments Inc. raised its position in Archer Aviation by 54.7% in the 4th quarter. Harbour Investments Inc. now owns 3,097 shares of the company's stock valued at $30,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Anchor Investment Management LLC raised its position in Archer Aviation by 58.3% in the 4th quarter. Anchor Investment Management LLC now owns 3,324 shares of the company's stock valued at $32,000 after purchasing an additional 1,224 shares during the last quarter. Institutional investors and hedge funds own 59.34% of the company's stock.
Archer Aviation Company Profile
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Get Free Report)
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.
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