Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $11.14, but opened at $10.68. Archer Aviation shares last traded at $10.66, with a volume of 6,038,640 shares traded.
Wall Street Analysts Forecast Growth
ACHR has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Archer Aviation from $11.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. HC Wainwright reiterated a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a research report on Monday, December 16th. Cantor Fitzgerald boosted their target price on shares of Archer Aviation from $10.00 to $13.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Needham & Company LLC began coverage on shares of Archer Aviation in a research note on Tuesday, November 19th. They issued a "buy" rating and a $11.00 price target on the stock. Finally, Canaccord Genuity Group lifted their price target on shares of Archer Aviation from $11.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Archer Aviation presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.
View Our Latest Analysis on Archer Aviation
Archer Aviation Price 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 capitalization of $4.47 billion, a price-to-earnings ratio of -7.95 and a beta of 3.15. The business's fifty day simple moving average is $7.25 and its 200 day simple moving average is $4.92.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.05). During the same quarter in the previous year, the business earned ($0.19) earnings per share. On average, research analysts forecast that Archer Aviation Inc. will post -1.28 EPS for the current year.
Insiders Place Their Bets
In other news, major shareholder N.V. Stellantis acquired 751,879 shares of the firm's stock in a transaction on Wednesday, December 11th. The stock was purchased at an average price of $6.65 per share, for a total transaction of $4,999,995.35. Following the purchase, the insider now owns 60,486,841 shares in the company, valued at approximately $402,237,492.65. This represents a 1.26 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam D. Goldstein sold 805,170 shares of the business's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.63, for a total value of $3,727,937.10. Following the completion of the transaction, the chief executive officer now owns 4,197,136 shares in the company, valued at $19,432,739.68. The trade was a 16.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 776,791 shares of company stock worth $5,139,699 and have sold 1,812,899 shares worth $11,601,707. Corporate insiders own 9.75% of the company's stock.
Hedge Funds Weigh In On Archer Aviation
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HBK Investments L P purchased a new position in shares of Archer Aviation during the 3rd quarter valued at $6,818,000. Sora Investors LLC purchased a new stake in Archer Aviation during the third quarter valued at about $3,429,000. Stifel Financial Corp boosted its position in Archer Aviation by 574.5% during the third quarter. Stifel Financial Corp now owns 459,171 shares of the company's stock worth $1,391,000 after purchasing an additional 391,092 shares during the period. Barclays PLC increased its stake in shares of Archer Aviation by 272.7% in the third quarter. Barclays PLC now owns 427,023 shares of the company's stock worth $1,294,000 after purchasing an additional 312,440 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Archer Aviation by 5.6% in the third quarter. Geode Capital Management LLC now owns 5,110,392 shares of the company's stock worth $15,487,000 after purchasing an additional 268,896 shares in the last quarter. 59.34% of the stock is owned by hedge funds and other institutional investors.
About Archer Aviation
(
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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