Archer Aviation Inc. (NYSE:ACHR - Get Free Report) shares traded down 3.2% during mid-day trading on Monday . The stock traded as low as $6.97 and last traded at $7.00. 4,218,597 shares were traded during trading, a decline of 85% from the average session volume of 28,748,939 shares. The stock had previously closed at $7.23.
Analyst Upgrades and Downgrades
ACHR has been the topic of several recent analyst reports. Raymond James boosted their target price on Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded Archer Aviation from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $6.00 to $9.00 in a report on Friday, January 10th. HC Wainwright reaffirmed a "buy" rating and set a $12.50 price objective on shares of Archer Aviation in a report on Friday, February 28th. Needham & Company LLC reaffirmed a "buy" rating and set a $13.00 price objective on shares of Archer Aviation in a report on Monday. Finally, Canaccord Genuity Group upped their price objective on Archer Aviation from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.61.
View Our Latest Analysis on ACHR
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 company has a market capitalization of $4.58 billion, a price-to-earnings ratio of -6.35 and a beta of 3.16. The company's 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.36.
Archer Aviation (NYSE:ACHR - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.10. On average, equities research analysts anticipate that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, General Counsel Eric Lentell sold 50,004 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $7.04, for a total transaction of $352,028.16. Following the transaction, the general counsel now directly owns 45,416 shares of the company's stock, valued at approximately $319,728.64. This trade represents a 52.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Mesler sold 62,258 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $7.70, for a total transaction of $479,386.60. Following the completion of the sale, the chief financial officer now owns 630,243 shares of the company's stock, valued at $4,852,871.10. This trade represents a 8.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,780 shares of company stock worth $3,158,081 over the last 90 days. Corporate insiders own 9.75% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of ACHR. Barclays PLC lifted its position in 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 buying an additional 312,440 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $15,487,000 after buying an additional 268,896 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Archer Aviation in the 3rd quarter worth approximately $80,000. Tidal Investments LLC boosted its stake in Archer Aviation by 29.9% in the 3rd quarter. Tidal Investments LLC now owns 14,518 shares of the company's stock worth $44,000 after purchasing an additional 3,339 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Archer Aviation by 74.3% in the 4th quarter. Versant Capital Management Inc now owns 8,048 shares of the company's stock worth $78,000 after purchasing an additional 3,430 shares in the last quarter. Institutional investors own 59.34% of the company's stock.
Archer Aviation Company Profile
(
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.
Featured Articles
Before you consider Archer Aviation, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Archer Aviation wasn't on the list.
While Archer Aviation currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
