Archer Aviation Inc. (NYSE:ACHR - Get Free Report)'s stock price rose 1.4% on Wednesday . The company traded as high as $8.28 and last traded at $8.22. Approximately 5,024,039 shares changed hands during trading, a decline of 73% from the average daily volume of 18,694,830 shares. The stock had previously closed at $8.11.
Analyst Ratings Changes
ACHR has been the subject of a number of research reports. HC Wainwright restated a "buy" rating and set a $12.50 target price on shares of Archer Aviation in a research report on Friday, February 28th. Raymond James upped their target price on shares of Archer Aviation from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. Cantor Fitzgerald upped 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. Canaccord Genuity Group upped their price target on shares of Archer Aviation from $13.00 to $13.50 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $11.61.
View Our Latest Research Report on ACHR
Archer Aviation Trading Up 5.3 %
The firm has a market cap of $4.73 billion, a PE ratio of -6.60 and a beta of 3.14. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.16. The company's 50 day moving average price is $8.80 and its two-hundred day moving average price is $6.69.
Archer Aviation (NYSE:ACHR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.10. As a group, sell-side analysts forecast that Archer Aviation Inc. will post -1.32 EPS for the current year.
Insider Activity
In related news, CTO Thomas Paul Muniz sold 50,000 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $12.00, for a total value of $600,000.00. Following the transaction, the chief technology officer now owns 1,070,360 shares of the company's stock, valued at $12,844,320. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Eric Lentell sold 43,230 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 $332,871.00. Following the completion of the transaction, the general counsel now directly owns 53,225 shares in the company, valued at $409,832.50. This represents a 44.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 303,985 shares of company stock valued at $2,555,685. 9.75% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ACHR. Intech Investment Management LLC purchased a new position in Archer Aviation in the 3rd quarter worth about $206,000. Charles Schwab Investment Management Inc. increased its stake in Archer Aviation by 5.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,830,666 shares of the company's stock worth $5,547,000 after buying an additional 94,430 shares during the period. Townsquare Capital LLC increased its stake in Archer Aviation by 25.6% in the 3rd quarter. Townsquare Capital LLC now owns 14,877 shares of the company's stock worth $45,000 after buying an additional 3,033 shares during the period. CreativeOne Wealth LLC increased its stake in Archer Aviation by 99.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 96,432 shares of the company's stock worth $292,000 after buying an additional 47,975 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Archer Aviation by 15.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,341 shares of the company's stock worth $186,000 after acquiring an additional 8,431 shares in the last quarter. Hedge funds and other institutional investors own 59.34% of the company's stock.
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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